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
Subscribe
Please try again
EUR/USD
Bearish
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
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • AUD/USD higher in a choppy session, however the pair struggled to break beyond 0.7750 $AUDUSD https://t.co/iSK8FxjST7
  • RT @KyleR_IG: Despite a bearish turn in global markets overnight, commodity prices continue to surge: the Bloomberg Commodity Index edged t…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.96% 🇦🇺AUD: 0.52% 🇨🇦CAD: 0.35% 🇯🇵JPY: 0.12% 🇨🇭CHF: 0.05% 🇪🇺EUR: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/twP6MgdXsu
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 3.5% Previous: 2.75% https://www.dailyfx.com/economic-calendar#2021-05-05
  • Gold prices continue to trade within a well-defined range just below resistance heading into US Non-Farm Payrolls tomorrow. Get your $XAUUSD market update from @MBForex here:https://t.co/Oq1n80tefH https://t.co/2rY2lk1llB
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.48% Silver: 0.02% Oil - US Crude: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/29lTujB1ER
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.63%, while traders in France 40 are at opposite extremes with 80.58%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/c8qEeia1mT
  • RBNZ's Bascand: - Rates need to stay low for "quite a long time" - We think the recent spike in inflation is a transient phenomenon
  • Dogecoin was less than 0.05 three months ago. Its high fell just shy of 0.70 today. Currently at 0.598. It isn't deep value. It is appetite for volatility and celebrity endorsement
  • Moderna booster shot bolsters antibodies against COVID-19 variants - BBG
EURUSD Price Breakout Update

EURUSD Price Breakout Update

Walker England, Forex Trading Instructor

Talking Points

  • EURUSD Opens with a False Breakout
  • Range Resistance sits at 1.2680
  • Range Reversals Triggered Under 1.2635

EURUSD 30Minute Chart

EURUSD Price Breakout Update

(Created using FXCM’s Marketscope 2.0 charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The EURUSD has opened the U.S. trading session this Monday morning attempting to breakout above resistance. The breakout failed, and price is now trading inside of its predefined trading range. Currently range resistance sits at the R3 pivot, found at a price of 1.2680. Range support is found 28 pips lower, at a price of 1.2652. With price back inside of its range, range reversal traders will look for a move back towards support in the absence of any new breakouts.

In the event that range resistance breaks, and price does attempt to breakout again, traders can look to trade with the markets new momentum.

A break above the R4 line of resistance at 1.2702, would indicate another attempt of the market to create a bullish bias. Conversely, a price break blow the S4 pivot at 1.2635 would show a return of USD strength, pushing the EURUSD back in the direction of its daily trend. In either breakout scenario, todays range would be considered invalidated and traders can then consider initiating new positions based off of a break of either support or resistance.

EURUSD Price Breakout Update

Are you new to trading with pivot points? To become more familiar with Camarill Pivots and how to use them for day trading FX Reversals, check out the suggested reading links below. This way you can continue your trading education, while working towards actively incorporating pivot points into your selected day trading strategy.

Suggested Reading:

The Pivot Point Cheat Sheet

Trading Intraday Market Reversals

Scalping with Pivot Points

CCI and Camarilla Pivots

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES