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
More View more
Real Time News
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/s5dn4ZKnku
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACyvdZ https://t.co/6VjW5FEiQW
  • Global stocks bounce back from recent pullback as key resistance levels lie ahead. Get your weekly equities forecast from @HathornSabin here: https://t.co/wXSWo1JygD https://t.co/vWVaSEQTXT
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/9kfBu04auM
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5ddzFV https://t.co/8GJ6OQYgnW
  • Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Get your weekly crypto forecast from @nickcawley1 here: https://t.co/ZKHGXeVhsR https://t.co/QSltMQml6N
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/DSp7f3YuAx
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/HNqHcbL6vk
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:https://t.co/zn56iTFBxM https://t.co/FbepD4RaFg
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:https://t.co/MrLGSp7FYa https://t.co/XS0176LyOg
EUR/USD Price Action Currently Battling a Bearish Trend, Bond Yields Remain Elevated

EUR/USD Price Action Currently Battling a Bearish Trend, Bond Yields Remain Elevated

Nick Cawley, Strategist

EUR/USD Price, News and Analysis:

  • EUR/USD chart highlights this week’s bearish momentum.
  • Italian bond yields continue to jump higher after ECB comments.

EUR/USD Stuck in a Bearish Rut

The most actively traded currency pair in the market, EUR/USD, continues to slip lower after yesterday’s ECB meeting failed to boost confidence in the single-market’s currency. Thursday’s wild swings saw the pair trade in a near three-big figure range, and current quotes show the pair four-big figures lower from Monday’s 1.1496 high print. Thursday’s daily candle will now likely restrict price action in the near-future.

The Euro is getting mild support from higher Eurozone bond yields after ECB President Christine Lagarde’s comments yesterday that the central bank was ’not here to close spreads’ in the sovereign debt space. This comment caused Italian bond yields, already under pressure due to the coronavirus epidemic, to jump sharply higher, causing the spread between Italian and German bonds to widen sharply. The additional EUR120 billion of QE announced for 2020 may temper these moves in the future, but for now the Euro remains under pressure.

EUR/USD Price Action Currently Battling a Bearish Trend, Bond Yields Remain Elevated

Chart via Investing.com

This week’s price moves have pushed volatility levels in the pair back to highs seen in early February 2019, using the ATR indicator. We noted recently that the longer-term series of lower highs had been broken and this may add a level of support to the pair, but this week’s bearish momentum continues to drive price action. Support may kick-in either side of 1.1100, while the 200-day moving average - the black line on the chart – acted as support yesterday. Financial markets remain extremely volatile and judging any entry and exit points remains difficult especially when the central bank can provide market moving commentary at any time.

EUR/USD Daily Price Chart (September 2019 – March 13, 2020)

EUR/USD Price Action Currently Battling a Bearish Trend, Bond Yields Remain Elevated

For all market moving data and events please the DailyFX calendar

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 EURUSD – 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