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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇨🇭CHF: -0.13% 🇨🇦CAD: -0.21% 🇳🇿NZD: -0.30% 🇬🇧GBP: -0.40% 🇦🇺AUD: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DYPFMVP55O
  • Heads Up:🇸🇪 Monetary Policy Report due at 07:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-22
  • Heads Up:🇸🇪 Riksbank Rate Decision due at 07:30 GMT (15min) Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2020-09-22
  • #EUStoxx50 Index at Risk as #Covid_19 Second Wave Fuels #Volatility https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/22/EU-Stoxx-50-Index-at-Risk-as-COVID-19-Second-Wave-Fuels-Volatility.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $FESX $EUSTX https://t.co/ETDxPfvGiz
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.74% FTSE 100: 0.69% France 40: 0.61% US 500: -0.15% Wall Street: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6OGqWGXLON
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGN79cW https://t.co/CePc5HUl2S
  • Dovish comments from RBA Dep Gov Debelle overnight sees money markets raise expectations that the RBA could cut rates further. - Remuneration on ES balances is currently 10bps, allowing for rates to be cut a little more without going into negative territory $AUD https://t.co/be5uhfsbAR
  • Crude oil prices weighed by demand concerns, rising US Dollar. Bollinger Band and "death cross" both flag more downside risk ahead. Read full article here: https://www.dailyfx.com/forex/market_alert/2020/09/22/Crude-Oil-Prices-Weighed-by-Demand-Concerns-Rising-US-Dollar.html https://t.co/J7SfJH6tvb
  • Wall Street Futures turned lower before European open: Dow Jones (-0.43%) S&P 500 (-0.45%) Nasdaq 100 (-0.63%) [delayed] -BBG
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/oPONI8N0HQ
EURUSD Reaches Daily Resistance

EURUSD Reaches Daily Resistance

2015-05-01 13:38:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The EURUSD attempts to close higher for the 7th day in a row
  • Price is currently below range resistance at 1.1277
  • A breakout above R4 would signal a bullish breakout

EURUSD 30Minute Chart

EURUSD Reaches Daily Resistance

(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 is attempting to close higher for the seventh trading day in a row. However, despite advancing as much as 465 pips this week, the EURUSD is still trading inside of its daily Camarilla pivot range for Friday. Currently, range resistance sits at 1.1277 at the R3 pivot point. If price remains inside of todays 107 pip trading range, and fails to break to a new higher high, traders will begin watching for price to move back towards values of support. Currently, range support sits at the S3 pivot found at 1.1170.

If price begins to gain momentum back in the direction of the daily trend, traders will look for a breakout above the R4 pivot at 1.1330. A move about this value would suggest continued US Dollar weakness going into this weeks close. Alternatively a drop below range support, towards the S4 pivot at 1.1116, would suggest there is potential for a broader reversal against the markets predominant trend.

EURUSD Reaches Daily Resistance

Using Camarilla pivots is just one way to approach day trading. To help you get started in your trading pursuit, DailyFX hosts a variety of day trading webinars. To learn more and register for future events, see the webinar calendar listed HERE.

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, pleaseSIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

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

DISCLOSURES