Inside the Currency Market: EUR/CAD

The big line break for EUR/CAD lies just above at 1.4856 while a further line above exists at 1.4964 and currently trends lower. Ranges in EUR/CAD are extremely wide, currently 524 pips yet until the China open ranges are exactly 52 pips wide. Current price just hit its Overbought sell point at 1.4931 so we could see price move lower from here. Current price is 1.4828 and is middle range.

EUR/CAD. Bottom. 1.4722. Range break above 1.4864, Below 1.4727. Overbought sell point 1.4950 then 1.4987. Strategy. Longs above 1.4795, Target 1.4950. Shorts must then clear below 1.4867, it did. Points on the way up, 1.4804, 1.4816, 1.4839, 1.4857, 1.4876, 1.4950.

Shorts below 1.4795. Target 1.4758 then lower on break to target bottom 1.4721. Watch 1.4758 for reversal to 1.4795. Points on the way down, 1.4789, 1.4780, 1.4768, 1.4762, 1.4741, 1.4722 Bottom.

Brian Twomey Inside the Currency Market, btwomey.com

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