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.

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
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
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd https://t.co/dRmLKUEaAM
  • 🇫🇮 GDP Growth Rate YoY Final (Q3) Actual: -2.7% Previous: -6.2% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate QoQ Final (Q3) Actual: 3.3% Previous: -3.9% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate QoQ Final (Q3) Actual: 3.3 Previous: -3.9% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate QoQ Final (Q3) Actual: 3.3 Previous: -4.5% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate YoY Final (Q3) Actual: -2.7 Previous: -6.4% https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇫🇮 GDP Growth Rate QoQ Final (Q3) due at 06:00 GMT (15min) Previous: -4.5% https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇫🇮 GDP Growth Rate YoY Final (Q3) due at 06:00 GMT (15min) Previous: -6.4% https://www.dailyfx.com/economic-calendar#2020-11-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.09%, while traders in NZD/USD are at opposite extremes with 73.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/b4kJ0Qob1K
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.30% 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.18% 🇪🇺EUR: 0.08% 🇬🇧GBP: 0.08% 🇨🇦CAD: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DwUkJlYg07
EUR/USD Outlook: Euro Battles Support, ECB May Signal December Action

EUR/USD Outlook: Euro Battles Support, ECB May Signal December Action

2020-10-27 09:45:00
Justin McQueen, Analyst
Share:

EUR/USD Price Analysis & News

  • US Dollar Safe-Haven Flows Weigh on Euro
  • ECB May Signal December Policy Action
Advertisement

US Dollar Safe-Haven Flows Weigh on Euro

The risk-off tone seen in yesterday’s session had seen firm demand in the dollar index as renewed COVID concerns dampened sentiment. In turn, the Euro had been on the backfoot testing support at the 1.1800. Among the key drivers behind the recovery in the Euro has begun to fade with the growth outlook moving in favour of the US over the Eurozone with the latter being hampered by fresh lockdown measures to curb the second wave of COVID cases. Alongside this, the Chinese Yuan is also seeing more two way risks with the PBoC cutting the Yuan fix to slow down the currency’s appreciation, which in turn has also put some pressure on the Euro.

EUR Forecast
EUR Forecast
Recommended by Justin McQueen
Download our fresh Q4 EURForecast
Get My Guide

ECB May Signal December Policy Action

The ECB will be in focus for the Euro this week and with the outlook deteriorating for the Eurozone, there is rising expectations that ECB’s Lagarde will signal the need for addition monetary policy meeting at its December meeting. As it stands, Bloomberg estimates are for an additional EUR 500bln to its stimulus programme, which can be extended until the end of next year.

EUR/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 12% -4% 0%
Weekly 16% -1% 4%
Learn how to use Sentiment in your trading strategy
Get My Guide

EUR/USD: Near-term supports resides at 1.1795-1.1800, which also coincides with the 55DMA. A break below, leaves the door open to 1.1750, while on the topside, resistance sits at 1.1835-40 before 1.1850. However, while the growth outlook has darkened for the Eurozone, the Euro will likely take its cue from the outcome of the US election as well as COVID vaccine results in the next few weeks.

10 Most Popular Candlestick Patterns

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

DISCLOSURES