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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bullish
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
GBP/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
USD/JPY
Bullish
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
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.49% US 500: 0.27% Germany 30: 0.26% France 40: 0.21% FTSE 100: 0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/jU8pwdzPYc
  • EUR/USD holding proven support level. Pullback may be over, but hurdles yet to cross. Get your $EURUSD market update from @PaulRobinsonFX here:https://t.co/v06OWd3Vqp https://t.co/acFOm0Jtq9
  • The price of oil pulls back from a fresh monthly high ($66.76) despite a larger-than-expected contraction in US inventories. Get your market update from @DavidJSong here: https://t.co/uxLol8LbDH https://t.co/7pcNZa2kSC
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.61% 🇨🇭CHF: 0.53% 🇪🇺EUR: 0.50% 🇯🇵JPY: 0.12% 🇳🇿NZD: -0.02% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/G1tbmnQXlH
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.19% Wall Street: 0.12% France 40: 0.02% Germany 30: -0.16% US 500: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7TV6gNkFhX
  • The Dollar's drop was not as clean against all of its major counterparts, but the $DXY's trade weighting translated EURUSD's rally into a bearish wedge break here. That said, this still qualifies as an inverse head-and-shoulders pattern https://t.co/FNg92kAOfP
  • IMF says downside risks are materializing in India $USDINR #NIFTY50
  • Dallas Fed's Kaplan: -Fed likely to achieve 'substantial progress' metric faster than expected -There are side effects from bond purchases -Still supports bond purchases but economy has improved faster than anticipated -Fed to reach full jobs, price goals some time in 2022
  • Key break higher for gold this morning as it pushes above $1800 for the first time since February https://t.co/Ih2e5I7ddS
  • Hey traders! Risk trends continue to struggle for clarity of direction. Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/TYFzIJxlvR
Buying on Dips

Buying on Dips

Richard Krivo, Trading Instructor

Student's Comments:Daily EUR/USD chart. Saw the uptrend. Drew the support and resistance lines. Then looked at a 30 mins chart. Placed an Entry order at 1.4758. Hopefully it touches the support for the third time by then. Otherwise i will have to keep a watch till it touches the support for a third time. Then put a Stop order at 1.4706 and a Limit order at 1.4958. What’s your opinion?Instructor's Response:You are correct that we only want to look for buying opportunities in an uptrend.As you suggest, we would want to wait for a pullback to support before placing our buy. Take a look at the chart below and note the area labeled Buy Zone in red...that would be the optimum entry area on this chart. As the old expression goes, in an uptrend a trader would want to buy on "dips" (the pulback or dip down to support) and in a downtrend a trader would sell on "rallies" (the pullback or rally up to resistance).

Buying_on_Dips_body_40271d1256772666-post-day-chart-10-28-09.png, Buying on Dips

Also, based on where you have placed the stops and limits on this trade, it is set up for an approximately 1:4 Risk Reward Ratio...well done.

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

DISCLOSURES