Inside the Currency Market: EUR/USD

Last evening EUR/USD shorts below 1.1181 broke 1.1153 and continued to bottom at 1.1116 for total + 65 pips. USD/CHF dashed to top at 0.9843, top was reported at 0.9840 and 0.9860. Reversal at reported 0.9776 dead stopped at 0.9777. Point 0.9776 was range point, held perfectly. No mysteries, we saw it all coming long before.

EUR/USD. Bottom. 1.1095. Range break above 1.1176, Below 1.1124, 1.1039. Overbought sell point 1.1205, Failure point 1.1188. Strategy. Longs above 1.1150, Target 1.1205 then reverse short to 1.1177. Points on the way up, 1.1158, 1.1173, 1.1188, 1.1205.

Shorts below 1.1150, Target 1.1122. Watch here for reversal to 1.1150. Points on the way down, 1.1149, 1.1141, 1.1134, 1.1126, 1.1111, 1.1095 Bottom. Point 1.1122 must cross to go higher and target 1.1150.

Brian Twomey, Inside the Currency Market, btwomey.com

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