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
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
Oil - US Crude
Mixed
Wall Street
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
Gold
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
GBP/USD
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
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
More View more
Real Time News
  • Gilead Sciences Phase 3 trial - Remdesivr generally well-tolerated in both 5-10 day working treatment groups - Odds of improvement in clinical status with 10day course were trending toward by not reaching statistical significance
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.59%, while traders in US 500 are at opposite extremes with 75.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ebB7GRBgFs
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the month! https://t.co/chKtG7waxH
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.09% 🇨🇦CAD: 0.50% 🇳🇿NZD: 0.48% 🇪🇺EUR: 0.10% 🇯🇵JPY: 0.07% 🇨🇭CHF: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bVCqFfLZYU
  • Weekly Strategy Webinar starting in 15min! https://t.co/lxd5fZ5LG7
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇲🇽 Business Confidence Actual: 35.2 Previous: 37 https://www.dailyfx.com/economic-calendar#2020-06-01
  • $AUDUSD: por encima de los niveles previos al #COVID19 #aud #usd #trading https://t.co/6PqkeurnQE
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/4ippNiIhEU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 75.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5zdOjLokqv
EUR/USD Bounces Intraday From Weekly Lows

EUR/USD Bounces Intraday From Weekly Lows

2016-12-16 13:27:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

EUR/USD 1 Hour Chart & Pivots

EUR/USD Bounces Intraday From Weekly Lows

(Created Using TradingView Charts)

After a series of large daily breakouts, the EUR/USD is starting Friday’s trading range inside of a 98 pip range. Price are now trading off of intraday resistance found at 1.0462 tobegin the US session trading. If the EUR/USD remains below resistancethe pair may continue to declinefrom this point towards values of daily support. The first point of intraday support is found at the S3 pivot at a price of 1.0364 completing today’s range. Reversal traders, looking to take advantage of the range, will look for price to bounce in this area.

In the event that price begins to gain momentum, traders may elect to begin looking for breakout opportunities A price break above 1.0508 at the R4 pivot would signal a bullish reversal, as the EUR/USD would be attempting to trade towards a short term high . Likewise a reversal in price, under the S4 support pivot at 1.0316 would signal a resumption in momentum back in the direction of the pair’s daily trend. It should be noted that if the EUR/USD does breakout lower, it would represent the third consecutive bearish breakout for this week’s trading.

EUR/USD Bounces Intraday From Weekly Lows

Traders tracking sentiment should also note that SSI (Speculative Sentiment Index) totals for the EUR/USD currently stand at +1.33. With 57% of positioning long, this typically suggests that the EUR/USD may be prepared to decline further. If prices do trade lower, it would be reasonably expected to see SSI totals move to a positive extreme of +2.00 or greater. Alternatively, if prices rebound traders should expect SSI figures to rebound back towards more neutral readings.

--- Written by Walker, Analyst for DailyFX.com

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

See Walker’s most recent articles at hisBio Page.

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.