We study the correlation function of the one-dimensional Ising model at fixed magnetization. Focusing on the scaling limit close to the zero-temperature fixed point, we show that this correlation function, in momentum space, exhibits surprising oscillations as a function of the magnetization. We show that these oscillations have a period inversely proportional to the momentum and give an interpretation in terms of domain walls. This is in sharp contrast with the behavior of the correlation function in constant magnetic fields and sheds light on recent results obtained by Monte Carlo simulations for the correlation functions of the critical two-dimensional Ising model at fixed magnetization.