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
Oil - US Crude
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
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here:
EUR/USD Outlook: Dollar Gains as Risk Appetite Wanes, ECB Rates in Focus

EUR/USD Outlook: Dollar Gains as Risk Appetite Wanes, ECB Rates in Focus

Richard Snow, Markets Writer

EUR/USD Analysis:

  • Safe haven appeal of the dollar hurts Euro, will the ECB remain ultra-dovish after ECB meeting?
  • Dollar extends EUR/USD decline, analyzing a break or bounce at long-term trendline support
  • Contrarian IG Client Sentiment indicator undecided for now

Relatively Dovish ECB and US Dollar Safe Haven Appeal Send EUR/USD Lower

The US dollar rose against its peers in early trade in the London session and in particular, in the EUR/USD. Markets have communicated doubts about the speed of the economic recovery as the Eurozone witnessed a contraction in GDP over the last two successive quarters.


Source: Tradingeconomics

The recent changes to the ECB’s inflation target of 2%, with overshoots allowed, further entrenches the ultra-dovish nature of the ECB. This comes at a time when members of other central banks – mainly the Fed and BoE - have already brought up the topic of tapering in some way or another, which stokes expectations of future interest rate increases in those locations. However, the ECB remains committed to creating a supportive environment to aid the recovery of the economic zone and warns against tightening too soon.

Econ calendar

For all market-moving data releases and events see the DailyFX Economic Calendar

Long-Term Trendline Support in-Focus

The daily chart shows recent price action as it temporarily broke below the long-term trendline acting as support since November 2020.

Bears will be eyeing at a break and hold below the long and short-term trendlines as the area of confluence represents a credible zone of support. Levels of support are at the April low (1.1700) and then around the 50% Fib level (drawn from the 2018 high to the March 2020 low) at 1.1600.

However, the appearance of positive divergence on the RSI presents the possibility of a potential reversal from here. Bulls will be watching for a bounce off the long-term trendline followed by upward momentum. Resistance comes in at the recent lower high of 1.1880, then 1.1940 before the psychological level of 1.2000.

EUR/USD Daily Chart

EUR/USD Daily chart

Chart prepared by Richard Snow, IG

Trading Education: Be on the lookout for price action that may indicate a potential reversal is near. Previous inflections points were marked by bearish engulfings, a bullish engulfing and the morning star candlestick pattern. Learn more about these and other candlestick formations via our comprehensive education library.

IG Client Sentiment ‘Mixed’ Despite Net-Long Positioning

  • EUR/USD: Retail trader data shows 56.13% of traders are net-long with the ratio of traders long to short at 1.28 to 1.
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.
  • The number of traders net-long is 2.88% higher than yesterday and 13.41% higher from last week, while the number of traders net-short is 3.20% higher than yesterday and 9.31% lower from last week.
  • 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.

--- Written by Richard Snow for

Contact and follow Richard on Twitter: @RichardSnowFX

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