Inside the Currency Market: EUR/USD

Last trade saw shorts from 1.1402 hit low 1.1353,and in line with 1.1360 – 1.1344 Bottom. Bottom held at 1.1344. Price reversed higher to break 1.1409 to Dead Stop at 1.1436, 3 pip violation of reported 1.1433.

EUR/USD. Bottom. 1.1336.Range above 1.1419, Below 1.1365 and 1.1353.Overbought sell point 1.1463, 1.1525, 1.1532.Strategy. Longs above 1.1393, Target 1.1463 – 1.1532. Reverse short to Target 1.1462, 1.1459,1.1428, 1.1413. Points on the way up, 1.1402, 1.1417, 1.1433, 1.1448, 1.1463.

Shorts Below 1.1392, Target 1.1364. Watch long reversal here. Points on the way down, 1.1399, 1.1389, 1.1384, 1.1376, 1.1369, 1.1352, Bottom 1.1336.

Brian Twomey Inside the Currency Market, btwomey.com

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