FX Reversals: EURUSD Reversal Range

By DailyFx | Updated August 04, 2014 AAA

DailyFX.com -

Talking Points

  • EURUSD Starts Week In Trading Range
  • Range Resistance Sits at 1.3445
  • Breakouts Signaled Under S4

EURUSD 30min Chart

FX Reversals: EURUSD Reversal Range

(Created using FXCM’s Marketscope 2.0 charts)

Despite Friday’s active trading session, the EURUSD has opened Monday into a new trading week relatively quiet. Overnight, the EURUSD has traded inside a predefined trading range as outlined by R3 and S3 camarilla pivots. Currently overhead range resistance sits at 1.3445 (R3) and support at 1.3409 (S3). As the pair continues to trade between these values, traders will wait for price to test either line of support or resistance before forming a trading bias.

As the trading session continues, traders will also continue to look for signs of increasing volatility. A breakout to a lower low under the S4 pivot at 1.3391, would signal a return to trending markets. Conversely a breakout to a higher high above the R4 pivot at 1.3463, would signal the beginning of a EURUSD bullish reversal. In the event of a breakout, traders should reconsider their trading bias based off of the change in market conditions.

FX Reversals: EURUSD Reversal Range

Are you unfamiliar with camarilla pivots and trading intraday market reversals? Increase your trading education with DailyFX! You can continue learning and work on your trading education HERE.

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your scalping techniques while tracking the market in real time.

Click HERE to Register Now

Related Forex Analysis
  1. EUR/USD falls to 1.2560
    Forex News

    EUR/USD falls to 1.2560

  2. EUR/USD Remains At Risk With Bearish Engulfing Pattern In Tow
    Forex News

    EUR/USD Remains At Risk With Bearish Engulfing Pattern In Tow

  3. Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop
    Forex News

    Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop

  4. EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen
    Forex News

    EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen

  5. EUR/USD: Selling to accelerate below 1.2580 - FXStreet
    Forex News

    EUR/USD: Selling to accelerate below 1.2580 - FXStreet

Trading Center