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
Mixed
GBP/USD
Bullish
USD/JPY
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
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • #DidYouKnow the global trade volumes dropped by close to 10% amid the Great Recession. Want to know your #tradewars history? Get it here: https://t.co/f4loFVimeY https://t.co/dsm02kQo7T
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.72%, while traders in France 40 are at opposite extremes with 87.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JPJaD7lqOJ
  • US Dollar ASEAN Ahead: IDR, MYR, Trade Talks, Bank of Indonesia #ASEAN #USD #tradewars - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/18/US-Dollar-ASEAN-Ahead-IDR-MYR-Trade-Talks-Bank-of-Indonesia.html?CHID=9&QPID=917702 https://t.co/KdtdFBrePr
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.07% 🇨🇦CAD: 0.03% 🇯🇵JPY: -0.04% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/uZlNJOzt15
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.04% Wall Street: -0.06% US 500: -0.06% France 40: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MxO1wOfF99
  • Over the past 30 days, #ARS, #COP and the #MXN have been the best performing Latin American currencies vs. USD with 6.91%, 1.04% and 0.99% total returns.
  • #KRW, #PHP and the #JPY are expected to be the most active Asian currencies vs #USD with 1-week implied volatilities at 6.75, 4.92 and 4.60 respectively
  • The #JapaneseYen has posted some rare gains against the #USDollar on its daily chart, but important channel support still holds on an intraday basis. Keep a close eye on it now. https://www.dailyfx.com/forex/technical/home/analysis/usd-jpy/2019/11/18/Japanese-Yen-Gains-But-USDJPY-Up-Channel-Remains-Key.html?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr #USDJPY, #AUDJPY, #JPY
  • RT @FactSet: The forward 12-month P/E ratio for $SPX is 17.5, which is above the 5-year average (16.6) and the 10-year average (14.9). http…
  • Overnight index swaps are pricing in an 34.2% probability of a RBNZ rate cut during its next meeting on 02/12/2020 #NZD
EUR/USD Attempts 2nd Daily Breakout

EUR/USD Attempts 2nd Daily Breakout

2016-04-19 13:25:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The EUR/USD Opens With a False Breakout
  • Bullish Breakouts Begin Over 1.1341
  • SSI Move Back From Extremes to -1.89

EUR/USD 30 Minute

EUR/USD Attempts 2nd Daily Breakout

(Created using Marketscope 2.0 Charts)

What do DailyFX analysts expect from the US Dollar for 2016? Find out here!

The EUR/USD is attempting to breakout higher today for the second time. Prices action is currently trading back above today’s R4 pivot at 1.1341. The pair’s first attempt to break over this value ended with price action retracing back inside of the pivot range displayed above. It should be noted that today’s range measures 32 pips and begins at the R3 pivot at a price of 1.1325. If prices continue to trade higher, traders may extrapolate targets by using a 1X extension of the range. This places initial bullish breakout targets near 1.1374.

In the event that the EUR/USD trades back below the R3 pivot, this morning’s movement would again be classified as a false breakout. In this scenario, traders may look for prices to traverse the range back down towards support at 1.1293. If prices continue to fall below the S3 pivot, this then exposes the EUR/USD to a bearish breakout below today’s R4 pivot at 1.1277. In the event of a bearish breakout, traders may again extrapolate 1X the range to get preliminary bearish targets near1.1245.

Find out the latest positioning totals with DailyFX’s sentiment page

SSI (Speculative Sentiment Index) for the EUR/USD currently reads at -1.89. This number has moved off from last week’s extremes of -2.4. While this number is significantly negative, a continued move back towards more neutral values may suggest a change in current market conditions.

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.