EUR/USD. Mentioned longs above 1.0895, 1st target 1.0968. Dead Stopped 1.0968. AUD/USD. Mentioned Longs above 0.7396, target 0.7429. Dead Stopped 0.7444. Off target by 15 pips. NZD/USD Mentioned Most important 0.6608 V 0.6591. Then 0.6621 and 0.6670. Dead Stopped 0.6653. 53 doesn’t register. GBP/NZD Mentioned way overbought, short from 1.3713, saw 1.3384 lows. Those taking these trades I offer should be doing really well. Today was an off day though. Only trade I liked was EUR/USD and didn’t like AUD or NZD/USD. AUD was fine from 0.7396, NZD was most skeptical.
EUR/USD. Overbought found between 1.0977, 1.0987 and 1.0998. So 1.0977 – 1.0998. What’s happening is 1.1001 1.1040 and 1.1083 are descending lines. Point 1.1001 is range top. Below 1.0980, 1.0977, 1.0965, 1.0950, 1.0940, 1.0939. Shorts again need break 1.0894, then 1.0880, 1.0872, 1.0852, 1.0843, 1.0820 then 1.1715.
Range bottom found 1.1715 while above dropping points 1.1001, 1.1040 and 1.1083. Back to short with must break 1.0894 to head lower.
Oh many thank you’s to friends, readers and traders to United States, Muchas Muchas Gracias, Merci, Danke, Mnogo blagodaria, Multumesc, Rahmat, Katta rahmat, obrigado, Bahut Bahut Shukriyal
Brian Twomey, Inside the Currency Market, btwomey.com
Downtrend changes or at least slows at 1.0895. Above 1.0895 then 1.0968, 1.0980 and 1.0985, 1.001. Downside points 1.0881, 1.0873, 1.0872, 1.0871, Then 1.0852, 1.0842, 1.0821.
How about extreme prices found 1.0904 and 1.0850. Targets still looking for 1.0717. Again shorts must remain below 1.0895. Note AUD/USD never broke above 0.7397 and remained dead in small ranges.
NZD/USD Below must break 0.6608, 0.6602, 0.6593, 0.6592, 0.6591 then targets 0.6540’s. Most important points 0.6608 and 0.6591. Above 0.6621, 0.6670. Range breaks aren’t seen until 0.6734 above and 0.6449 and 0.6418 below. Current price is dead center range points.
GBP/USD Needs break below 1.5472 and 1.5360. Note Risk on Risk off AUD/CAD. Points 0.9570, 0.9556 and below 0.9470. Tells us this market is stuck and explains price movements. This day could very well be a dead range situation.
Brian Twomey Inside the Currency Market Btwomey.com
Yesterday post, I mentioned 0.7397 most important point. That point held and price remains below today. I mentioned overbought 0.7381 — 0 0.7397 and sell area. AUD price dead stopped at 0.7385 and reversed. The low short sells saw 0.7347. I also mentioned 0.7324 target but don’t look for the last pip to 0.7324. I wasn’t confident we would see 0.7324 break. We didn’t. Its fine we focused on one trade and a one sided trade. Anyone can do that. We can do much better. Take yesterday for example. If 0.7324 doesn’t break yet we saw lows near the range bottom. How will price react? Price is going long. So take profits at yesterday;s lows from 0.7385 sell then automatically reverse. And use my reported points as the guide. Reported points function as either supports or resistance. Yesterday’s longs for example from 0.7347 had to surpass 0.7373, 0.7374 and onward. Those points would not break because they established the markets points. So long from 0.7347 would’ve added to the day’s profits. Overall some day’s pay big while other day’s we earn what the market bears. Most important is we don’t lose.
I will be with Brother Dale ” Friend of Forex” again Live Analysis Room Fxstreet.com 1st week August. And I will be well prepared for what may come. Those interviews are not pre arranged. Those guys walk in cold not knowing questions, areas or focus. And Brother Dale stepped up his game, his show by light years as well as his interview skills since he first began. He’s absolutely a Brother and can be respcted all.
Note vital points. 0.7346, 0.7347, 0.7348, 0.7354, 0.7362, 0.7371. Now current price 0.7371. Point 0.7371 is top range in points. This is dangerous. The downside is locked. Point 0.7346 must break to go short. The overall range is found 0.7396 – 0.7297. Point 0.7396 is one pip drop from yesterday’s vital 0.7397. Longs must break 0.7396 to target 0.7429. I wouldn’t marry longs or targets. Big range breaks above is found at 0.7468 and 0.7471. A break of 0.7396 then offers ranges from 0.7396 – 0.7468, a 72 pip rrange And from 0.7396 – 0.7297, range 99 pips. I still see the lower target from yesterday at 0.7324 but not today. I don’t like AUD today. Main reason is AUD may not perform and sit listless going nowhere as it also sits mid range. I’ll look at NZD next Then EUR later. Chances are good we probably see the same in those pairs as we see in AUD.
Brian Twomey Inside the Currency Market, btwomey.com