No post last evening because the EUR/USD from yesterday afternoon was the actual forecast and the forecast performed perfectly. I didn’t see it in the afternoon but once China opened, I saw exactly what they were doing. It was then I knew the forecast would hold. 1.1188 held, 1.1159 finally broke to give us a run to the bottom at 1.1131 and eventually break. 1.1159 held as stated till the China open. The forecast held because the central bankers held prices in small ranges purposefully. My calculations are the exact same calculations performed by every central bank the world over. Our few rare misses appears to now be over and we are back to normalization. That means target will again hit perfectly as was the case in the last 30 days.
NZD/USD/ MZD looks interesting and a continued focus today as well as the EUR.
Bottom. 0.6576 exactly. Watch this point. Range above 0.6625, below 0.6593 and 0.6510. Overbought 0.6634 – 0.6654.
Strategy. 0.6610 defines NZD direction. Long above 0.6610 to target 0.6633, 0.6643, 0.6654. We are after the main target at 0.6654 point. Points on the way up, 0.6627, 0.6633, 0.6643, 0.6654. Below 0.6609, targets bottom at 0.6576. Then to head higher the point at 0.6592 must break then 0.6609, 0.6610.
Brian Twomey Inside the Currency Market, btwomey.com