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.

Free Trading Guides
EUR/USD
Bearish
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
Mixed
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • Heads Up:🇬🇧 GBP Retail Sales Ex Auto Fuel (YoY) (OCT) due at 09:30 GMT (15min), Actual: N/A Expected: 3.4% Previous: 3.0% https://www.dailyfx.com/economic-calendar#2019-11-14
  • EU Trade Commissioner Hogan says the key issue in the EU-UK trade talks is standards
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.63%, while traders in France 40 are at opposite extremes with 84.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/v6hfPwSeDn
  • What is the best time to trade #forex? Find out: https://t.co/NbM2tJK9cl #tradingstyle https://t.co/AmtstPZEYs
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.73% Gold: 0.34% Silver: 0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EEsApAkMmS
  • Euro Outlook Dour Even as Germany Narrowly Avoids Recession - https://www.dailyfx.com/forex/market_alert/2019/11/14/Euro.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #Germany #GDP
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.19% 🇯🇵JPY: 0.10% 🇪🇺EUR: 0.03% 🇬🇧GBP: -0.13% 🇳🇿NZD: -0.29% 🇦🇺AUD: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0JS1Y5wJNc
  • #Euro Outlook: #EURUSD Decline May Accelerate Ahead of GDP Data https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2019/11/14/Euro-Outlook-EURUSD-Decline-May-Accelerate-Ahead-of-GDP-Data.html
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: US 500: -0.03% Wall Street: -0.04% France 40: -0.06% Germany 30: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eNZVkci3zp
  • This piece will analyze key technical developments in $EURNOK, GBP/SEK, GBP/NOK and $USDSEK as each pair approaches key technical levels.Get your market update from @ZabelinDimitri here:https://t.co/IQ75REEYZg https://t.co/44OZE9oOGF
EUR/USD Retraces Gains on NFP Data

EUR/USD Retraces Gains on NFP Data

2016-04-01 14:10:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The EUR/USD Traders Lower Post NFP
  • Bullish Breakouts Begin Over 1.1431
  • SSI Reads at an Extreme -2.39

EUR/USD 30 Minute Chart

EUR/USD Retraces Gains on NFP Data

(Created using Marketscope 2.0 Charts)

What is next for the Euro and US Dollar? Click HERE for our analysts Free forecast!

The EUR/USD has retraced its early gains on better than expected NFP data. Forecasts for today’s NFP event were set at 205k. However, the figures beat expectations and were released at 215k. This caused the EUR/USD to immediately to sell off from its high of the day at 1.1437. Now prices are currently trading back below todays’ R3 pivot point which is found at a price of 1.1403. This decline has opened up prices action to test values of support. This includes today’s S3 pivot which is acting as range support at a price of 1.1347.

If the EUR/USD’s bullish momentum resumes, traders may again look for bullish breakout opportunities above the R4 pivot point at 1.1431. While the pair’s first attempt to breakout higher has failed, a second attempt may set the pair to close the week towards new weekly highs. By extrapolating 1X today’s 56 pip range, initial bullish targets begin at 1.1487.

SSI (speculative sentiment index) for the EUR/USD is reading at -2.39. This value remains at a negative extreme, and when taken as a contrarian signal suggests further advances for the pair. With 70% of positioning currently short, if the EUR/USD attempts to mount a bearish reversal, traders should look for SSI to taper off towards a more neutral value.

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.