Skip to Content
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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
FX Reversals: EURUSD Attempts Breakout on News

FX Reversals: EURUSD Attempts Breakout on News

Walker England, Forex Trading Instructor

Talking Points

  • The EURUSD opens in a 64 pip range
  • Prices bounce on better than expected news
  • R4 resistance at 1.1082 signals a bullish breakout

EURUSD 30Minute Chart

(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 rallied this morning on a better than expected ZEW survey. Prices were initially depressed, dropping as low as 1.0960, but the pair immediately rebounded back on the better than expected news. Ultimately prices have rallied through the entirety of today’s 64 pip trading range, with prices now trading above the R3 Camarilla pivot point at 1.1050. If bullish momentum continues, traders will begin looking for a breakout above the R4 pivot point at 1.1082.

While the EURUSD is initially bullish in early trading, a move back inside of today’s trading range would signal an end to current trading conditions. As mentioned above, range resistance is found at the R3 pivot. In the event prices drop below this value, traders will begin looking for prices to test values of support including the S3 pivot found at 1.0986.

Are you unfamiliar with camarilla pivots and trading intraday market reversals? Increase your trading education with DailyFX! You can continue learning about Forex and working on your trading education HERE.

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your scalping techniques while tracking the market in real time.

Previous Market Setups

FX Reversals USDJPY Pre-NFP Range

FX Reversals: EURUSD Breakout Fails

FX Reversals: GBPUSD News Breakout

FX Reversals: EURUSD Support Update

FX Reversals: USDJPY Attempts Breakout

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email

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.