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.



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
Wall Street
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
More View more
Real Time News
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The Australian Dollar remains vulnerable to most of its major counterparts, with AUD/USD and AUD/JPY resuming losses. Did AUD/NZD bottom? AUD/CAD may consolidate. Get your weekly Australian Dollar forecast from @ddubrovskyFX here:
  • 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:
  • 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:
EUR/USD Price Outlook - Sitting on Multi-Week Support Ahead of Busy Data and Events Week

EUR/USD Price Outlook - Sitting on Multi-Week Support Ahead of Busy Data and Events Week

Nick Cawley, Strategist

EUR/USD Price, News and Analysis:

  • ECB policy meeting, ZEW and Markit PMIs all on the docket this week.
  • US dollar nudges higher ahead of US Presidential inauguration.

EUR/USD traders are in for a busy week with a raft of important economic releases, the latest ECB policy meeting and President-elect Joe Biden’s inauguration all hitting the market in a matter of a few days. Included in this data outturn are the latest ZEW and Markit PMI readings for Germany and the Euro Area (EA), inflation data for the EA, the latest ECB policy decision and German Ifo readings at the end of the week. The Martin Luther King holiday in the US today is keeping a lid on price action so far, but volatility is expected to increase from tomorrow onwards. For all market-moving economic data and events, see the DailyFX Calendar.


The daily EUR/USD chart suggests that the pair may struggle to move in the short-term and that the path of least resistance is for lower prices. Today’s range is tight due to the US holiday and the pair sit just above the multi-week support around 1.2055. The pair have a small boost today, provided by a marginally weaker US dollar, but the recent downtrend remains in place. The pair have also opened below the 50-day simple moving average after breaking below the 20-day sma just over a week ago. The CCI shows EUR/USD as being heavily oversold. A break lower should see 1.2011 and 1.2000 tested in short-order before 1.1900 to 1.1920 comes into play. The short- and medium-dated moving averages at 1.2122 and 1.2204 provide initial levels of resistance.

EUR/USD Daily Price Chart (June 2020 – January 18, 2021)

EUR/USD Price Outlook - Sitting on Multi-Week Support Ahead of Busy Data and Events Week

IG Retail trader data show 48.26% of traders are net-long with the ratio of traders short to long at 1.07 to 1.We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise.Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current EUR/USD price trend may soon reverse lower despite the fact traders remain net-short.

What is your view on EUR/USD – 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.