Rare to see last Bottom break at 1.1184. Bottoms break on news events normally due because they are so solid and carefully calculated. The Yellen fall then a hawkish speech on a 2015 rate hike promise was enough to send EUR/USD through the bottom. More downside should be seen in days ahead.
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EUR/USD. Bottom. 1.1126. Range break above 1.1207, Below 1.1155, 1.1070. Overbought sell point 1.1238, Failure point 1.1222. Strategy. Longs above 1.1181, Target 1.1238 then reverse short to 1.1210. Points on the way up, 1.1190, 1.1206, 1.1222, 1.1230, 1.1238.
Shorts below 1.1181, Target 1.1153. Watch here for reversal higher. Points on the way down, 1.1178, 1.1174, 1.1166, 1.1158, 1.1142, 1.1126 Bottom. Point 1.1153 must cross to go higher.
Brian Twomey, Inside the Currency Market, btwomey.com