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
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
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
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
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
USD/JPY
Mixed
More View more
Real Time News
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/ZJOEtpGUIq https://t.co/BQKfQzpi6l
  • Worth going along to this...@ShaunMurison_IG knows his stuff!! https://t.co/FH5vEXVLrk
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/o7vhN7kh5c
  • #Bitcoin breaking towards the August high as RSI surges into overbought territory for the first time since August A push to test the 2019 high (13764) could be on the cards if price can breach the 12,500 mark #BTC https://t.co/ANMEn7O5kg https://t.co/g1hTFENvW4
  • EU's Barnier says it is possible to find a compromise on level playing field, adds that an agreement is within reach $GBP
  • EU's Barnier says it takes two to reach a deal $GBP
  • EU's Barnier says a deal is within reach if both sides are willing to compromise $GBP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.76%, while traders in EUR/USD are at opposite extremes with 70.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5ceG7kdQ3s
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/AyM4cSDXtC
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.46% Gold: 0.64% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HdkcnCBndK
EURUSD Opens in a 122 Pip Range

EURUSD Opens in a 122 Pip Range

2015-06-09 13:16:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The EURUSD opens in a 122 pip range
  • S3 support is found at 1.1230
  • A breakout below 112.14 would signal a bearish reversal

EURUSD 30Minute Chart

EURUSD Opens in a 122 Pip Range

(Created using Trading View Charts, Click the graph to learn more)

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

The EURUSD has opened Tuesday’s trading lower, with price now testing the daily S3 Camarilla pivot at 1.1230. This point on the graph represents daily support for today’s 122 pip trading range. In the event that price remains range bound, reversal traders will watch the price action for a bounce in price back towards range resistance, found at the R3 pivot at a price of 1.1352. A bounce higher also opens the possibility of a move beyond today’s R4 pivot at 1.1414. A breakout beyond this value, would be an extremely bullish scenario with price moving to a new monthly high for June.

Alternatively, if the EURUSD continues to decline through values of support, traders will begin looking for a breakout below the S4 pivot found at 1.1168. A move in price below this point would be significant, signaling a shift in momentum from yesterday’s bullish trading session. In the event that a lower low is formed, traders will begin to look for price to challenge the current weekly lows which now resides at 1.1080.

EURUSD Opens in a 122 Pip Range

Want to learn more about day trading intraday market reversals? Join Walker England and other DailyFX hosts for 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