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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Italian PM Conte convenes cabinet for Tuesday to inform ministers he is resigning - Cabinet office $EUR Confirming earlier reports
  • Gains on $WTI Crude have stalled out this month below $54.00. The commodity is currently trading around $52.30 after falling to a two-week low late last week. $OIL $USO
  • No notable reaction in BTPs given that resignation from Conte has been touted earlier in order to put together a new government. Also, a resignation does not necessarily mean that a snap election will be the next step as of yet.
  • The retail speculative crowd is throwing around serious weight with GameStop today, but its appetites have been showing through with the likes of Tesla and FAANG before that. The Broader $NDX to $SPX ratio seems to similarly exhibit the charge:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.51%. See the summary chart below and full details and charts on DailyFX:
  • AUD/USD still tracks the opening range for January amid the limited reaction to Australia’s Employment report. Get your $AUDUSD market update from @DavidJSong here:
  • The focus will shift as to whether Conte will search for a new parliamentary majority As a reminder, PD Lawmakers noted that they would guarentee support for Conte as head of new government if he resigns $EUR
  • Italian PM Conte is expected to resign as early as Monday - Officials $EUR
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Gold: 0.13% Oil - US Crude: -0.19% Silver: -0.47% View the performance of all markets via
  • BoE Governor Bailey: - Digital innovations in payments are here to stay - Haven't yet landed on the appropriate design for a lasting digital currency - Doesn't think cryptocurrencies are lasting yet #BoE $GBP
Euro Outlook: EUR/USD Hitting Resistance, EUR/GBP Upside Faded

Euro Outlook: EUR/USD Hitting Resistance, EUR/GBP Upside Faded

Justin McQueen, Analyst

EUR/USD, EURGBP Price Analysis & News

  • EUR/USD Rejects 1.20 Again EUR/USD
  • EUR/GBP Rallies to be Faded
  • German Labour Market Remains Firm Despite Lockdown 2.0

EUR/USD Rejects 1.20 Again: With month-end noise out of the way, markets can now focus on the longer-term themes. Yesterday’s price action had been rather choppy with EUR/USD once again failing to convincingly break above 1.20. However, dips have been short-lived with the USD based view that rallies in the greenback are likely to be faded. Particularly as the longer-term view remains that 2021 will see a strong cyclical rebound thus benefitting USD counterparts. In the option space, sizeable expiries at 1.20 (1.7bln expiring on Friday) looks set to magnetise spot Euro. In turn, dips are likely to find good support, particularly down towards 1.1920 as long as markets remain risk-on. Elsewhere, on the data front, market focus will be on the ISM Manufacturing PMI, where a firmer than expected reading could see a brief pullback in EUR/USD.

Short-Term Technicals

Support: 1.1950, 1.1900, 1.1870Resistance: 1.1980, 1.2000, 1.2030

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 22% 1% 9%
Weekly -11% 4% -3%
Learn how to use Sentiment in your trading strategy
Get My Guide

EUR/GBP Rallies to be Faded: The bias remains for EUR/GBP rallies to be faded. While time is seemingly running out as we near the end of the transition period and with key issues yet to be resolved, the consensus remains that an EU-UK trade agreement will be struck, thus taking a no-deal off the table. Yesterday’s struggle at 0.90 reinforces the view that brief spikes in the cross will find firm resistance. That said, while the 0.8900 offers good support, 0.8860 is the key level on the downside where a close below opens up the door to a slide towards 0.8700.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 26% 8% 18%
Weekly -31% 34% -12%
Learn how to use Sentiment in your trading strategy
Get My Guide

German Data Recap: The latest German jobs report reaffirms the case that the labour market remains a bright spark within the economy. Perhaps what is more surprising is that the better than expected report has also come at a time where a second national lockdown had been implemented. The German unemployment change fell by 39k, bringing down total unemployment seasonally adjusted to 2.817mln. The unemployment rate fell to 6.1% from 6.2% in October.

According to the German labour market agency, the number of people on short-time work schemes, which have shielded the labour market from the brunt of the pandemic, fell to 2.22mln in compared to 2.6mln in the prior month and a peak of nearly 6mln reached in April at the height of the pandemic.

10 Most Popular Candlestick Patterns

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