EURUSD

(Last Updated January 18, 2021)

Welcome to the news page for EURUSD (EURUSD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for EURUSD

metric_name reference_period asset_name asset_id date time forecast outcome
Euro Area Eurogroup Video Conference NA Euro EUR 2021-01-18 08:00 GMT
Euro Area ECB President Lagarde Speech NA Euro EUR 2021-01-18 08:00 GMT
European Union New Car Registrations YoY Dec 2020 Euro EUR 2021-01-19 07:00 GMT
Euro Area Construction Output YoY Nov 2020 Euro EUR 2021-01-19 10:00 GMT
Euro Area ZEW Economic Sentiment Index Jan 2021 Euro EUR 2021-01-19 10:00 GMT

The Trend

As for trends on EURUSD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

EURUSD Moving Averages

The moving averages on EURUSD summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, implying a upward trend, aside from a decline about 3 weeks prior. Moreover, it should also be noted that the 20 SMA just turned bearish today.

The chart below illustrates.

Regarding EURUSD’s correlations over the past 7 days, it has been most correlated with USDSEK. EURUSD has been most correlated with USDSEK over the past 14 days also, so this may be a structural correlation in the market. Alternatively, the asset least correlated with EURUSD over the past week has been ZARJPY, but if we observe the prior two weeks, the asset least correlated with EURUSD has been NZDCHF. The chart below illustrates EURUSD against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, EURUSD’s rate is down -144 pips (-1.18%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows EURUSD’s price action over the past year.

EURUSD: The Monthly View

Strongest trend on the 120 month timeframe.

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