Sunday trades recap quickly. NZD/USD sell at 0.6531 dead stopped at 0.6537 then reversed short. Bottom at 0.6581 broke to 0.6557. MXN. Longs Dead stopped at 16.2772, I said sell 16.2735. Bottom I said 16.0836, bottom held at 16.1884. GBP/USD I said sell 1.5531, Dead Stopped at 1.5545. A Reversal attempt later Dead Stopped again at my reported 1.5505. Bottom I said 1.5392, it held at 1.5428. EUR/USD Reversed at 1.0981, my sell point was missed but I mentioned the top was dam close. Bottom I said 1.0908, held at 1.0926. Do not look at these trades as misses. They were so dead on perfect. More later.
EUR/USD. The Top in EUR is here for now, the Resistance above is rock rock solid. The downside again is wide open with plenty of daylight. Again if an interest rate hike is coming for Yellen, I will know long in advance so we’re ready.
Bottom 1.0905. Range break below 1.0760, above 1.1084. Overbought Sell points 1.0991, 1.0998.1006, Target to bottom 1.0905. Above must break 1.0961, may not be seen. Then 1.0969, 1.0991, 1.0998, 1.1006.
Brian Twomey, Inside the Currency Market, btwomey.com