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. See our updated Privacy Policy here.

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
Oil - US Crude
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
More View more
USDollar Breaks Higher on News

USDollar Breaks Higher on News

Walker England, Forex Trading Instructor

Talking Points

  • The USDollar Breaks Higher on news
  • Today’s R4 pivot sits at 12,000
  • R3 resistance starts at 11,982

USDollar 30Minute Chart

USDollar Breaks Higher on News

(Created using FXCM’s Marketscope 2.0 charts)

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

The USDollar has opened aggressively higher, despite a worse than expected Initial Jobless Claims release this morning. Price is currently trading over today’s R4 resistance pivot, found at a price of 12,000. Bullish traders have been looking for a breakout above this value, and a close above this point will represent the 9th close higher in 10 days. In the event that the USDollar continues to trend higher, Forex traders may begin looking for lower lows on traditional currency pairs such as the EURUSD.

In the event that today’s USDollar rally falters, traders will begin looking for a reversal below the R3 range pivot found at 11,982. A move to this point would open price up for a further decline to points of support including the S3 pivot at 11,944. A further decline to the S4 pivot at 11,926 would have broader bearish implications. A move to this point would represent the first daily decline in price in 6 trading sessions.

USDollar Breaks Higher on News

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 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