Start Trading Now Get Started
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

EUR/USD Forecast: Continues to Rally After Trump Comments

By Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
  • You can see that the Euro has had a very big day during Friday as Trump has blathered in the news that he wants Chairman Powell to start cutting rates immediately.
  • Oddly enough, Trump doesn't make that decision, and it seems like the markets have forgotten about that, at least in the short term.
  • So, at this point in time, I think we've got a situation where we have to determine whether or not there is enough momentum to make this market go higher.

I really don't believe this until we break above 1.06, because that would be a real recovery. Right now, when you look at the overall drop that we have seen, we are still not even to the 38.2% Fibonacci retracement level.

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review

We Will See…

So really with that being the case, I think this is a little bit of an oversold bounce and I will be selling into this unless of course, we break above the 1.06 level, then I'll have to reassess things. The Euro is going to continue to suffer at the hands of the European economy and bureaucrats. That's just the reality of the situation and I think ultimately, you've got a scenario where eventually people go looking for cheap US dollars again, and they may be finding them in the cluster just above current trading. Again, I'm looking for signs of exhaustion to sell into. I recognize that this is a nice little bounce, but it doesn't really change the trend, at least not quite yet.

EUR/USD Forecast Today 27/01: Rallies after Comments (graph)

At this juncture, the market is likely to continue to be noisy, but if we can get some type of negativity, then it’s likely that the momentum could come unraveled for the Euro, and then we would see money running right back into the United States, as I expect to be the case of the longer-term anyway.

Ready to trade our EUR/USD daily forecast? Here’s a list of some of the top forex brokers in Europe to check out.

Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Most Visited Forex Broker Reviews