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
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • What are some key points post the US Presidential debate? Get your key highlights here with @ZabelinDimitri at 10:30PM EST here: https://t.co/XV0y5M8KLT https://t.co/PUTq6kOjxt
  • Although recent polls suggested that Joe Biden is leading, the odds that Donald Trump may again defy the preconceived forecasts still exist. Remember he is Trump. And thus a face-to-face debate is worth traders’ precious time. Live TV show begins in 50 mins.
  • Dow displayed a bearish trading pattern overnight: 7 out of 9 sectors in the red, with 86.7% of the index constituents ending lower. Energy, materials and industrials were among the worst performers, while healthcare and consumer discretionary struggled to hold small gains. https://t.co/hI957NZRLr
  • 🇯🇵 Industrial Production YoY Prel (AUG) Actual: -13.3% Previous: -15.5% https://www.dailyfx.com/economic-calendar#2020-09-29
  • 🇳🇿 ANZ Business Confidence (SEP) Actual: -28.5 Previous: -41.8 https://www.dailyfx.com/economic-calendar#2020-09-30
  • 🇯🇵 Retail Sales YoY (AUG) Actual: -1.9% Expected: -3.5% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2020-09-29
  • Heads Up:🇳🇿 ANZ Business Confidence (SEP) due at 00:00 GMT (15min) Previous: -41.8 https://www.dailyfx.com/economic-calendar#2020-09-30
  • Heads Up:🇯🇵 Industrial Production YoY Prel (AUG) due at 23:50 GMT (15min) Previous: -15.5% https://www.dailyfx.com/economic-calendar#2020-09-29
  • Heads Up:🇯🇵 Retail Sales YoY (AUG) due at 23:50 GMT (15min) Expected: -3.5% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2020-09-29
  • The British Pound and US Dollar will be contending with the rising geopolitical risks of Brexit, US fiscal stimulus talks and the first presidential debate in a data-packed week. Get your $GBPUSD market update from @ZabelinDimitri here:https://t.co/iXDA9cVqtd https://t.co/2iiyWMXFTA
EURUSD Mondays Reversal Range

EURUSD Mondays Reversal Range

2014-10-06 13:09:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • EURUSD Retraces in a Downtrend
  • Range Resistance Holds at 1.2560
  • Range Reversals Triggered Under 1.2416

EURUSD30min Chart

EURUSD Mondays Reversal Range

(Created using FXCM’s Marketscope 2.0 charts)

Suggested Reading: Trading Intraday Market Reversals

After dropping as much as 174 pips during Fridays trading, the Euro has quietly retraced to a key point of resistance this morning. Currently price sits under the R3 Camarilla Pivot, depicted above at a price of 1.2560. In the event that resistance holds, trend traders will look for price to move back towards support now found at 1.2464. The distance between these two points is 96 pips, which comprise today's reversal range.

In the event of an increase in price momentum, traders can begin positioning for a breakout. A drop below the S4 pivot, at a price of 1.2416, would signal the creation of a lower low and a strong continuation signal with the trend. A move above R4 resistance at 1.2608 would create a counter trend reversal, as the EURUSD would be breaking to a higher high at this point. In either breakout scenario, traders should consider concluding any range bound positioning and trade 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.

EURUSD Mondays Reversal Range

Yesterdays Update

Friday’s reversal article focused on the EURGBP staying within its reversal range. Price tested support shortly after the NFP economic news announcement, but even with news volatility price traded between values of support and resistance through the end of the day. To learn more about Friday’s action, check out the FX Reversal article linked below.

FX Reversals: EURGBP Range Reversal 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