Inside the Currency Market: EUR/USD

EUR/USD. Bottom. 1.1171. Range break above 1.1240 and 1.1332, Below 1.1214. Overbought sell point 1.1300, Failure point 1.1283, 1.1268. Strategy. Longs above 1.1227, Target 1.1300 then reverse short to 1.1263, Failure at 1.1283 then short to 1.1255. Points on the way up, 1.1236, 1.1244, 1.1252, 1.1260, 1.1268, 1.1283, 1.1300.

Shorts below 1.1227, target 1.1199. Watch for reversal here to 1.1227. Points on the way down, 1.1219, 1.1215, 1.1211, 1.1207, 1.1203, 1.1187, 1.1171 Bottom. Point 1.1199 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

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