Inside the Currency Market: EUR/USD Non Farm

EUR/USD rose on the Non Farm Payrolls release. Why. Certain points must be fulfilled. Then it dropped to 1.0858. What is 1.0858? a trend line, former low, Liquidity area, Oh wait a Supply and Demand Zone. maybe a Fibonacci number, a natural Logarithm number.

What I believe is the central banks pulled another slick one on traders. My speculation is they knew the exact NFP number long before the release.

The next range bottom is located at 1.0706. The top to break to go higher is 1.0885. Then comes next 1.0913, 1.0915, 1.0923, 1.0930, 1.0934, 1.0939 and 1.0941. Most important is 1.0913 – 1.0941. Those are shortest term range points if price breaks 1.0913. Prices should remain below 1.0941 for the next few hours.

Brian Twomey, Inside the Currency Market, btwomey.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s