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

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • When is Kodak going to get into the SPAC game? Bitcoin mining pivot in 2018 and Vaccine production pivot in July 2020. Any day now...
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.19% Gold: 0.74% Oil - US Crude: 0.34% View the performance of all markets via
  • The Dow Jones, Nasdaq 100 and S&P 500 will look to the arrival of earnings season for influence. Get your #equities market update from @PeterHanksFX here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.41%, while traders in France 40 are at opposite extremes with 75.87%. See the summary chart below and full details and charts on DailyFX:
  • Pfizer states it can deliver 10% more vaccine doses to the US by the end of May $PFE $SPX $NDX $RUT
  • Had the pleasure of sitting down with @GuyAdami and @RiskReversal for another episode of The Macro Setup to discuss $GLD $BTC and $SPX ahead of earnings season and the Coinbase IPO Watch here -
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.41% Germany 30: 0.06% Wall Street: 0.00% FTSE 100: 0.00% US 500: -0.01% View the performance of all markets via
  • #Bitcoin breaks out to fresh all-time highs as investors cast an eye to the long awaited Coinbase IPO #BTC $BTCUSD
  • NY Fed Treasury purchase schedule remains unchanged - BBG
  • Silver posting a strong session, now up 2.3% on the day. In recent trade, silver has struggled to break above the 50-day EMA $XAG $USD
Euro Outlook: EUR/USD Plummets Towards 1.17- Bear March into April

Euro Outlook: EUR/USD Plummets Towards 1.17- Bear March into April

Michael Boutros, Strategist

Euro Technical Price Outlook: EUR/USD Near-term Trade Levels

  • Euro updated technical trade levels – Daily & Intraday Charts
  • EUR/USD plunges nearly 3% off March high– bears vulnerable into support / monthly close
  • Support objectives eyed at 1.1695 & 1.1.1622 – risk for further losses sub-1.1845

Euro is poised to mark a third consecutive weekly decline against the US Dollar with EUR/USD plunging nearly 3% from the monthly high. The declines takes Euro more than 5% off the yearly / January high with EUR/USD now approaching the first major technical support hurdle just lower. These are the updated targets and invalidation levels that matter on the EUR/USD technical price charts heading into the March close / April open with US Non-Farm Payrolls on tap this Friday. Review my latest Strategy Webinar for an in-depth breakdown of this Euro setup and more.

Starts in:
Live now:
Apr 19
( 12:04 GMT )
Live Weekly Strategy Webinars on Mondays at 12:30GMT
Weekly Scalping Webinar
Register for webinar
Join now
Webinar has ended

Euro Price Chart – EUR/USD Daily

Euro Price Chart - EUR/USD Daily - Euro vs US Dollar Trade Oulook - Technical Forecast

Chart Prepared by Michael Boutros, Technical Strategist; EUR/USD on Tradingview

Technical Outlook: EUR/USD broke below a key technical support confluence last week at 1.1835/45 - a region defined by the August high-week reversal close, the 100% extension of the yearly decline and the 200-day moving average. The decline is now approaching the first majors support hurdle at the 38.2% Fibonacciretracement of the 2020 advance / 1.618% extension at 1.1695-1.1706- looking for possible inflection off this threshold with a close below needed to keep the focus on more significant support at the lower parallels / October 2018 high at 1.1622.

Euro Price Chart – EUR/USD 120min

Euro Price Chart - EUR/USD 120min - Euro vs US Dollar Trade Outlook - Technical Forecast

Notes: A closer look at Euro price action shows EUR/USD trading within an embedded descending pitchfork formation extending off February / March highs with the median-line further highlighting near-term support at 1.1695/1.1706. Initial resistance now back at 1.1754 backed by the weekly open at 1.1790. Bearish invalidation now lowered to 1.1835/45 - a breach / daily close above would be needed to suggest a more significant reversal is underway.

EUR Forecast
EUR Forecast
Recommended by Michael Boutros
Download Our Latest Quarterly Euro Price Forecasts!
Get My Guide

Bottom line: The Euro breakdown is now approaching the first hurdle at downtrend support and leave the bears vulnerable into the 1.17-handle. From a trading standpoint, look to reduce short exposure / lower protective stops on a stretch into this zone – be on the lookout for possible topside exhaustion ahead of 1.1845 IF price is indeed heading lower with a break exposing 1.1622. Keep in mind we’re heading into the close of the month / quarter tomorrow – stay nimble into the April open with NFPs on tap ahead of the extended holiday weekend. Review my latest Euro Weekly Price Outlook for an in-depth look at the longer-term EUR/USD technical trade levels.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

Euro Trader Sentiment – EUR/USD Price Chart

Euro Trader Sentiment - EUR/USD Price Chart - Euro vs US Dollar Retail Sentiment - Technical Outlook
  • A summary of IG Client Sentiment shows traders are net-long EUR/USD - the ratio stands at +1.17 (53.89% of traders are long) – neutral reading
  • Long positions are 1.67% lower than yesterday and 15.37% higher from last week
  • Short positions are 2.12% higher than yesterday and 8.05% 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. Traders are less net-long than yesterday but more net-long from last week and the combination of current positioning and recent changes gives us a further mixed EUR/USD trading bias from a sentiment standpoint.
EUR/USD Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -6% -4% -5%
Weekly -23% 23% 1%
Learn how shifts in Euro retail positioning impact trend
Get My Guide


Key Euro / US Economic Data Releases

Key Euro / US Economic Data Releases - EUR/USD Economic Calendar - Euro Event Risk Ahead

Economic Calendar - latest economic developments and upcoming event risk.

Active Technical Setups

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex

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