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
Real Time News
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • RT @FxWestwater: Gold, Iron Ore Forecast: Prices Hinge on FOMC, Evergrande Crisis, China Steelmaking Curbs Link: h…
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • We are heading into a Tuesday lull which precedes Wednesday's FOMC focus. Will the absence of distractions allow for risk trends to gain momentum or perhaps will Fed anticipation temper the $SPX tumble? My take:
  • CTV projects Trudeau wins his third term as Canada's Prime Minister - BBG
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • US House Speaker Pelosi says top-line spending number may change but hopes for $3.5 trillion in spending bill - BBG
  • RBA Minutes: - Board committed to providing high level of monetary support - Q3 GDP expected to decline materially - Central scenario is rates on hold until 2024 - BBG $AUDUSD
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min)
EUR/USD Breaks Lower on Jobless Claims

EUR/USD Breaks Lower on Jobless Claims

Walker England, Forex Trading Instructor

Talking Points

  • The EUR/USD Breaks Lower on US Jobless Claims Data
  • Bearish Breakouts May Target
  • Bullish Reversals Begin Above 1.0750

EUR/USD 30 Minute Chart

EUR/USD Breaks Lower on Jobless Claims

(Created using Marketscope 2.0 Charts)

Losing Money Trading Forex? This Might Be Why.

The EUR/USD has aggressively traded off of resistance this morning after USD Initial Jobless Claims were released worse than expected. The expected value for this morning event was 278k; however, the news ultimately released a figure of 293k. As seen in the graph above, this information quickly moved EUR/USD price action lower from today’s R3 pivot point, which is found at 1.0910. Currently the pair is trading below the S4 pivot point, which is found at 1.0710. A move to this point is significant, because it is potentially represents the first bearish breakout for the pair in six trading periods. In the event of further bearish momentum, breakout traders may extrapolate 1-x of today’s 79 pip trading range to place initial bearish targets near 1.0631

It should be noted that prices for the EUR/USD have been range bound this week prior to today’s breakout. In the event that prices move back above the S3 pivot found at 1.0750, it would quickly invalidate today’s early morning breakout. In this scenario, traders may look for prices to begin ranging back towards values of resistance. Today’s R3 pivot point is found at a price of 1.0829 and is currently acting as range resistance for the pair.

SSI (Speculative Sentiment Index) for the EUR/USD still remains slightly negative, reading at -1.27.While this value is not extreme, in the event of future price declines, trend traders would look for this value to again turn positive. Conversely, if SSI remains negative, it may signal a future advance for the pair.

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

See Walker’s most recent articles at his Bio Page.

Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of the Traits of Successful Traders Guide to find out [free registration required].

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.