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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
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
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aC5CZqRzxd
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.20% Silver: -0.31% Oil - US Crude: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7rkjdGff4Y
  • Euro May Turn Lower vs. US Dollar as Upswing Falters Below 1.20 - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2021/04/19/Euro-May-Turn-Lower-vs-US-Dollar-as-Upswing-Falters-Below-1.20.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis https://t.co/30VPCDfO1B
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.28% 🇦🇺AUD: 0.11% 🇳🇿NZD: 0.08% 🇨🇦CAD: 0.03% 🇨🇭CHF: 0.03% 🇪🇺EUR: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LQnZcITyT6
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% France 40: 0.03% FTSE 100: -0.09% US 500: -0.23% Wall Street: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/19eau4SxDU
  • Crude Oil Prices Retreat After Big Rally as Traders Await Fresh Catalysts https://www.dailyfx.com/forex/market_alert/2021/04/19/Crude-Oil-Prices-Retreat-after-Big-Rally-as-Traders-Await-Fresh-Catalysts.html https://t.co/e6PdkgQ2C7
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cvjBS https://t.co/fLokdpFkq0
  • India's Sensex slumps 3% after daily virus cases hit new record - BBG
  • US 10-Year Treasury yields set to continue sliding lower in the near term, after breaching the neckline of a Head and Shoulders pattern. Clearing 1.53% probably paves the way for rates to fulfil the pattern's measured move (1.42), opening the door for #gold to extend gains https://t.co/5RP1EmBiBf
  • Gold Prices Extend Higher on Chinese Demand Boost, Falling Yields https://www.dailyfx.com/forex/market_alert/2021/04/19/Gold-Prices-Extend-Higher-on-Chinese-Demand-Boost-Falling-Yields.html https://t.co/lFYMUZbRkK
Euro (EUR/USD) Price Outlook - Sellers Remain in Control as Support Breaks

Euro (EUR/USD) Price Outlook - Sellers Remain in Control as Support Breaks

Nick Cawley, Strategist

Euro Price, News, and Analysis:

  • Multi-week support breaks, opening the way for lower prices.
  • Retail trader data shows customers buying EUR/USD
The Quiz
Discover what kind of forex trader you are
Start Quiz

For all market-moving economic data and events, see the DailyFX Calendar.

EUR/USD continues its slow move lower and after breaking multi-week support at 1.1836, the pair look set to trade sub-1.1800 in the near future. Any rebound back to the old support level may be an opportunity to position for lower prices.

The European Council starts a two-day meeting today with the EU vaccination program the main topic of conversation. The EU has struggled to date to get their vaccination program fully operational and they lag both the US and UK by a considerable margin. This is causing friction in Brussels with the EU saying recently that they have the power to prevent any vaccines from leaving the EU if their own quotas have not been met. That the EU was behind the UK and US in ordering the vaccines, and it seems has a weaker legal contract, has not stopped the EU’s heavy-handed action.

The daily EUR/USD chart highlights the ongoing weakness of the pair with little in the way of support until Fibonacci retracement support at 1.1692 heaves into view. The chart is showing a series of lower lows off the January 6 high, while the break and open below the 200-day simple moving average adds to the negative outlook. Retail traders have also been buying EUR/USD over the last week (see below) a negative contrarian signal.

EUR/USD Daily Price Chart (October 2019 – March 25, 2021)

Euro (EUR/USD) Price Outlook - Sellers Remain in Control as Support Breaks
EUR/USD Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% 0% 0%
Weekly -4% 16% 8%
Learn How to Use Sentiment in Your Trading Strategy
Get My Guide

IG Retail trader data show 54.00% of traders are net-long with the ratio of traders long to short at 1.17 to 1. The number of traders net-long is 2.86% lower than yesterday and 32.36% higher from last week, while the number of traders net-short is 9.63% higher than yesterday and 11.13% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EUR/USD trading bias.

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.

DISCLOSURES