Inside the Currency Market: EUR/USD

EUR/USD. Target this morning was reported 1.1209, forgotten written Failure point was 1.1194, price dead stopped 1.1190 and reversed to 1.1133. Price broke morning range above at 1.1162.

What decides EUR/USD next leg is ranges again, above 1.1193 and below 1.1141. Range Point 1.1162 from this morning becomes meaningless.

EUR/USD. Bottom. 1.1112. Range break above 1.1193, Below 1.1141. Overbought sell point 1.1214, Failure point 1.1209. Strategy. Longs above 1.1167, Target 1.1214 then reverse short to 1.1190, at 1.1209 Failure then short to 1.1188. Points on the way up, 1.1178, 1.1185, 1.1193, 1.1209, 1.1214. Watch 1.1193 Range point, could see price failure if so reverse short to 1.1181. Could see higher target at 1.1226. Covering angles here.

Short below 1.1167, Target 1.1139, Points on the way down, 1.1163, 1.1160, 1.1152, 1.1145, 1.1135, 1.1128, 1.1112 Bottom. Point 1.1139 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s