Inside the Currency Market: EUR/USD

What’s driving EUR/USD is the same story, Mid section. Yet the long end continues to fall slowly yet falling. This means rallies are opportunities to sell.

EUR/USD. Bottom. 1.1344. Range break above 1.1440, 1.1516 and 1.1561, Below 1.1362, 1.1287, 1.1243, 1.1173. Overbought sell point 1.1467, Failure point 1.1438. Strategy. Longs above 1.1402, Target 1.1467. Then reverse short to 1.1434, at failure point 1.1438 then short to 1.1419. Points on the way up, 1.1409, 1.1423, 1.1430, 1.1438, 1.1452, 1.1467. Extensions 1.1497, 1.1528.

Shorts below 1.1401, Target 1.1372. Watch for reversal here to 1.1401. Points on the way down, 1.1398, 1.1390, 1.1386, 1.1383, 1.1376, 1.1350, 1.1344 Bottom. Point 1.1372 must break to go higher to target 1.1401 and higher. Long again at hold 1.1344 to target 1.1372 and above.

Brian Twomey, Inside the Currency Market, btwomey.com

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