Inside the Currency Market: EUR/USD

EUR/USD. Bottom. 1.1099. Range break above 1.1167, 1.1246, Below 1.1141, 1.1063. Tight ranges. Overbought sell point 1.1214. Strategy. Longs above 1.1155, Target 1.1214, Failure point 1.1196. Then reverse short to 1.1184 and from 1.1196 reverse to 1.1175. Points on the way up,1.1164, 1.1180, 1.1188, 1.1196, 1.1211, 1.1226.

Shorts below 1.1154, Target 1.1126. Watch here for reversal to 1.1154. Points on the way down, 1.1147, 1.1139, 1.1131, 1.1115, 1.1099 Bottom. Point 1.1126 must cross to go higher to target 1.1154. Bottom holds then long again to 1.1126.

Last 2 long trades failed few pips above entry, we want to monitor points for long failures to reverse short.

Brian Twomey, Inside the Currency Market,


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