News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
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
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US #Dollar may fall if demand for haven-linked assets fall after testimonies from Powell and Mnuchin to the House. Better-than-expected data may compound the Greenback’s selling streak. Get your #currencies update from @ZabelinDimitri here: https://t.co/HRjFvPKlvx https://t.co/n2IMVDqpZn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in NZD/USD are at opposite extremes with 71.11%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eoCmgXp0MN
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/QVVQkoSwMW
  • The S&P 500 index may struggle in the near term – drifting sideways within the bounds of its Bollinger Band – but the overall trend still looks bullish. Get your #equities update from @margaretyjy here: https://t.co/BysksU7lWj https://t.co/UV0hFkZBte
  • #EURUSD Breaking Down, #tiktokban Averted. Biden Leads Trump in Polls https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/20/EURUSD-Breaking-Down-TikTok-Ban-Averted-Biden-Leads-Trump-in-Polls.html
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3Wked6GBOp https://t.co/RwX8BpOSiz
  • Join analyst @DavidJSong at 6:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/dQxyAORI9P
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/782gHedGTW https://t.co/i6fB1PIQbx
  • #Crudeoil prices could reverse lower as the #OPEC Monthly Oil Market Report (MOMR) forecasts fading global demand and oversupply concerns. Get your #commodities update from @DanielGMoss here: https://t.co/G02ajeLPqZ https://t.co/THuauT4XQ9
EURGBP Range Reversal Update

EURGBP Range Reversal Update

2014-10-03 15:37:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • EURGBP Stays Range Bound Post NFP
  • Range Support Sits at .7864
  • Range Reversals Triggered Under .7808

EURGBP 30min Chart

EURGBP Range Reversal Update

(Created using FXCM’s Marketscope 2.0 charts)

Suggested Reading: Trading Intraday Market Reversals

Traders looking to avoid the volatility of this morning’s NFP event, can set their sights on currency crosses such as the EURGBP. Thia pair remained quiet, despite the rest of the market’s volatility, and has maintained its 38 pip trading range. Currently price has bounced off of range support, found at the R3 pivot depicted above. This will allow reversal traders to target the R3 line of resistance at .7864, in the event that price stays range bound.

If price moves out of the marked trading range, traders can begin positioning for a breakout. A drop below the S4 pivot, at a price of .7808, would signal the creation of a lower low and a move back in the direction of the daily trend. A move above R4 resistance at .7882 would create a bullish bias on the EURGBP on a break to new high highs. In either breakout scenario, traders should consider concluding any range bound positioning and trading with the markets new found momentum.

If you would like to be notified as new articles are made available, please click HERE to join my distribution list.

EURGBP Range Reversal Update

Yesterdays Update

Yesterday began with the NZDUSD breaking out to higher highs above R4 resistance. After prices attempted to retrace, the NZDUSD had again tested new highs by the conclusion of the trading day. To learn more about yesterday’s action, check out Thursday’s FX Reversal article linked below.

FX Reversals: NZDUSD Breakout Update

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your day trading techniques while tracking the market in real time.

Click HERE to Register Now

---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.

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

DISCLOSURES