Inside the Currency Market: NZD, GBP, EUR/USD

EUR/USD

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

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