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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.70% FTSE 100: 0.67% France 40: 0.59% US 500: 0.03% Wall Street: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3K94pQai89
  • Gold holding steady as stocks, dollar remain relatively flat during trade $XAU $USD https://t.co/DOS8MlnGWa
  • The US economy will be in particular focus over the coming days, with the first Federal Reserve rate decision of the Biden presidency and the initial Q4’20 US GDP report on the docket. Get your market update from @CVecchioFX here:https://t.co/IsXHxRNVvv https://t.co/xnYIDGwvDL
  • Germany will not be able to stick to debts limits in constitution for years - Handelsblatt
  • The FTSE 100 has extended its pullback from trendline resistance (stemming from the 2009 low) with the index shedding 0.6% for the week. Get your #FTSE market update from @JMcQueenFX here:https://t.co/ZH3mu1MlEx https://t.co/NHPRYQIVDB
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Oil - US Crude: -0.02% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ra1oz2gMJz
  • WTI Crude futures settle up 0.96%, at $52.77 - BBG
  • I'm not usually big with head and shoulders patterns but there are conflicting signals in $USD atm. 1st chart here is on h4 and it's a h&s with neckline ~ 90. 2nd chart is on h8, and its an inverse h&s with neckline ~ 91. Given calendar, a break this week can def happen. https://t.co/EuuD7kFDVP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lXqkGmTKFc
  • Today was the 'quiet' session of the week with only a few high profile indicators on tap. The high profile fundamental themes start up in earnest tomorrow (including the IMF's WEO). We will see how speculative charge for the likes of GME competes with global growth forecasts
FX Reversals: EURUSD Trend Stalls

FX Reversals: EURUSD Trend Stalls

Walker England, Forex Trading Instructor

Talking Points

  • EURUSD Opens in a 50 Pip Range
  • Breakouts Signaled Under 1.1274
  • Range Resistance Sits at 1.1348

EURUSD 30Minute Chart

FX Reversals: EURUSD Trend Stalls

(Created using FXCM’s Marketscope 2.0 charts)

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

Despite last week’s decline, the EURUSD continues to trade flat in early morning Tuesday trading. Prices tested resistance overnight at the R3 Camarilla pivot near 1.1348, but quickly slipped back towards key levels of support. After moving through todays 50 pip trading range, the pair then attempted to breakout out below the S4 pivot at 1.1274. However, as of the US market open, price has yet to close below this value on the 30 minute chart.

In the event that price begins to gain momentum, trend traders may elect to look for a breakout under the S4 pivot. Alternatively, if price moves back inside of the current range, at the S3 line of support, then reversal traders would look for price to again attempt to move to values of resistance, including the R3 pivot point. A breach of the R4 pivot at 1.1372 would suggest price beginning a larger counter trend move with the creation of higher highs.

FX Reversals: EURUSD Trend Stalls

---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