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
Bullish
Oil - US Crude
Bearish
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Fed's Mester: -Want to see more, broader progress in recovery -May end year with inflation above 2%, but falling next year -Sees upside risks to inflation forecast -Sees upward valuation pressures in equity markets -Don't see elevated market risks now, but must be attuned $SPX
  • Inflation concerns revive the reflation trade, evident in yesterday’s Nasdaq drop DAX 30 likely to face increase selling pressure as tech stocks unwind. Get your market update from @HathornSabin here:https://t.co/LH8K92N8LY https://t.co/BB2FDC9qtW
  • Hey traders! Risk aversion really picked up yesterday at the close of the session. What is in-store today? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/wJkVH4AZUY
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.49% Oil - US Crude: 0.35% Gold: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GKaLs4uLkI
  • Heads Up:🇺🇸 Fed Williams Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • JOLTS US job openings soar to 8.1M, the highest reading on record and well above the consensus forecast looking for 7.5M.
  • Not a pretty picture for the Nasdaq 100 which opens to its biggest bearish gap since October 2nd. Takes out the 100-day moving average and 38.2% Fib of the March-present range. The past year's trendline support still in place at ~12,900 https://t.co/5D2YW648Nc
  • Central Bank chat on tap later today. (BST/GMT+1) https://t.co/0RuBGVbW8m
  • US equities rebounding nicely after the opening bell on Wall Street. The recovery in risk appetite steers the US Dollar back down to intraday lows. $SPX $NDX $DJI https://t.co/6X7KA5i0iD
EURUSD Attempts a Fresh Daily Breakout

EURUSD Attempts a Fresh Daily Breakout

Walker England, Forex Trading Instructor

Talking Points

  • EURUSD attempts to breakout over 1.1420
  • Range resistance sits at 1.1377
  • A decline exposes support at 1.1252

EURUSD 30Minute Chart

EURUSD Attempts a Fresh Daily Breakout

(Created using Trading View Charts: Click on the chart below to zoom in; after zooming in, press the play button towards the right to set the market in motion )

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

The EURUSD has attempted to breakout higher this morning, testing resistance found at today’s R4 Camarilla pivot at 1.1420. Price has now attempted to breakout a total of 3 times, and has so far failed to break above resistance in each approach. In the event that the EURUSD does break higher, the pair has the potential to close higher for the third time in four trading sessions this week. Traders following the trend can take a potential breakout as a bullish continuation signal, and look for opportunities to position themselves accordingly.

In the event that prices fall, and the EURUSD trades back below its R3 pivot at 1.1377, this would temporarily stall any bullish scenario. A move to this point would open the market up to a potential reversal for the pair. This would include a move through today’s 84 pip pivot range towards the S3 pivot found at 1.1293. A broader reversal would be extend through the S4 pivot found at 1.1252. A move to this point would have further bearish implications, as prices would be trading back below the weekly open.

EURUSD Attempts a Fresh Daily Breakout

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.

Previous Market Setups

GBPUSD Reaches Range Resistance

GBPUSD Range Reversal Update

USDollar Attempts Breakout on News

EURJPY Fails to Breakout Higher

---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