Formal:
* Nous regardons: This is the most common and literal translation.
* Nous sommes en train de regarder: This is a more formal and complete way to say it, emphasizing the action of watching.
Informal:
* On regarde: This is a more casual and informal way to say it, using the pronoun "on" which is often used to mean "we" in informal contexts.
Specific to TV/Movies:
* On regarde la télé: This translates to "we're watching TV."
* On regarde un film: This translates to "we're watching a movie."
So, depending on the context and the desired level of formality, you can choose the best translation for "we are watching."