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.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/rEVhCnC0vY
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/I1AA0UEyWq
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/o4zt4pmSzc
  • The $USDINR may fall as the Nifty 50 rises after the US and China avoided tariff escalation and Indian CPI increased at its fastest pace since July 2016 amid on onion shortage. Get your market update from @ddubrovskyFX here:https://t.co/iXLf98geXL https://t.co/uVwbkkkl09
  • My weekend trading video: 'A #Dow and Yuan Retreat Could Break 2019's Bullish Complacency' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/14/A-Dow-and-Yuan-Retreat-Could-Break-Break-2019s-Bullish-Complacency.html?CHID=9&QPID=917719
  • The $USD may extend declines against its ASEAN counterparts after the Fed rate decision. The Philippine Peso and Singapore Dollar are attempting key technical breakouts. Get your market update from @ddubrovskyFX here:https://t.co/JoPLb4Oi2q https://t.co/fKzeBlWaCx
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/Mf9e1cgWmR
  • The #Euro jumped higher to challenge range resistance capping upside progress since mid-October. Signs of ebbing momentum warn it may be back on defense soon. Get your market update from @IlyaSpivak here: https://t.co/MGqVDEWhUD https://t.co/rQRxJAmLWi
  • RT @zerohedge: Is The Market Up This Week? Just Ask The Fed's Balance Sheet https://t.co/6p01J9yAZ8
  • $USD: "The US Dollar is making a last-ditch effort to cling onto a key technical support level after dropping 3% from its 2019 high as risk appetite roars and the Fed inflates its balance sheet." - via @DailyFX Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/14/us-dollar-outlook-fx-volatility-rising-from-extreme-lows-usd-levels-to-watch.html https://t.co/87cITJPVQa
FX Reversals: EURGBP Range Reversal

FX Reversals: EURGBP Range Reversal

2014-09-15 13:25:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • EURGBP Reverses Inside Daily Range
  • Price Support is Found at .7951
  • Bullish Momentum Signaled Over .7959

GBPUSD 30min Chart

FX Reversals: EURGBP Range Reversal

(Created using FXCM’s Marketscope 2.0 charts)

Suggested Reading: Trading Intraday Market Reversals

The EURGBP opens range bound today at the start of US Session trading. The pair currently trading near range resistance at the S3 pivot located at .7951. A price reversal at this point, would suggest a bounce towards range resistance. R3 resistance is located at .7974, creating a 23 pip trading range for today. Price has already traversed the range once, and in the absence of a breakout traders will look for ranging conditions to continue.

With a loaded economic calendar this week, there is always the possibility of a price breakout. Traders should continue to monitor both the S4 and R4 pivot, for either the creation of a higher high or lower low. At present the R4 pivot stands at .7959 and S4 support rests at .7940. In either breakout scenario, traders can look for the conclusion of ranging markets and trade with new market momentum

FX Reversals: EURGBP Range Reversal

Yesterdays Update

On Friday the USDJPY was hovering under strong resistance at 107.40. Throughout the trading session price never breached this value, leaving the pair in a holding pattern inside of its defined trading range. In the absence of a breakout, traders can still look for key values of support and resistance for trading opportunities. Use the link below, to review the setup!

FX Reversals: USDJPY Stalls Under R4 Resistance

---Written by Walker England, Trading Instructor

To contact Walker, email instructor@dailyfx.com. Follow me on Twitter @WEnglandFX.

To be added to Walker’s e-mail distribution list, CLICK HERE and enter in your email information.

FX Reversals: USDJPY Stalls Under R4 Resistance

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

DISCLOSURES

News & Analysis at your fingertips.