News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/dObQjwTEpH
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/K8PLT8SVEb
  • We are within 48 hours of the FOMC rate decision and markets are clearly paying attention. The Dow is struggling while the SPX has edged a fresh record. Meanwhile, the Dollar is a deer in the headlines. I discuss what to expect for Tuesday trade: https://www.dailyfx.com/forex/video/daily_news_report/2021/06/15/Dow-and-SP-500-Diverge-Ahead-of-FOMC-Dollar-Holds-as-Gold-and-Yields-Slide.html https://t.co/J0H5HirVh0
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/kZJKbmUZs7
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.26% Gold: -0.23% Silver: -0.73% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0B7tF2adjQ
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.00% 🇨🇦CAD: -0.03% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VeKOeAWOt9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 75.00%, while traders in France 40 are at opposite extremes with 79.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZYFoi1huEb
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/y0zq7YdcRf
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-15
  • Nasdaq 100 Hits All-Time High, Hang Seng and ASX 200 May Follow https://www.dailyfx.com/forex/market_alert/2021/06/15/Nasdaq-100-Hits-All-Time-High-Hang-Seng-and-ASX-200-May-Follow-.html https://t.co/Wqldw4aXNC
EUR/USD Price Analysis: Fresh One-Month Low as 2020 Downtrend Continues

EUR/USD Price Analysis: Fresh One-Month Low as 2020 Downtrend Continues

Nick Cawley, Strategist

EUR/USD Price, Chart and Analysis

  • EUR/USD now trading below all three moving averages
  • ECB and PMIs heaving into view.

EUR/USD Hindered by Negative Backdrop

A lot of moving parts currently pushing EUR/USD price action with the majority being negative. From a fundamental point of view, news that Luigi di Maio will step down as leader of the Five Star movement has weighed on the single currency, while the latest broadside from US President Trump that he will put a 25% tariff on EU autos if the two sides are unable to make a deal, brings trade wars back into focus. The EU have said that they will push ahead with the proposed digital tax, leaving an escalation in the dispute between the two sides likely.

Euro Under Dark Clouds as Trump Threatens Auto Tariffs

Euro Traders Eye ECB Meeting and Euro-Zone PMIs

This week will see the latest ECB monetary policy announcement (Thursday) and accompanying press conference and the first look at sentiment in the Euro-Zone via the Markit manufacturing, services and composite PMIs on Friday. Tuesday’s ZEW releases, all better than expected, showed a strong rebound in Euro-Zone optimism and Euro bulls will be looking for more of the same on Friday. The ECB are fully expected to leave all monetary policy levers untouched on Thursday, but President Christine Lagarde may give more details about the central bank’s strategic review into the effectiveness of its monetary policy and how it affects the ECB’s price stability mandate.

EUR/USD Price – Chart Remains Biased Towards the Downside

Today’s break lower and one-month low print suggests that sellers remain in control of price-action. While it can be argued that the longer-term outlook for the Euro is positive, the breaking of a series of lower highs and new lower lows from late October, the short-term set-up suggests a re-test of 1.1000. The pair are trading below all three moving averages and may further selling will bring 1.1065 and then 1.1040 in play before the short-term target of the 1.0981 – 1.0989 zone comes into view. The CCI indicator is in oversold territory and may slow any further move lower. Resistance levels between 1.1106 and 1.1124.

EUR/USD Daily Price Chart (April 2019 – January 22, 2020)

eurusd daily price chart

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on the Euro and the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES