Inside the Currency Market: EUR/USD

Last night EUR/USD barely saw above 1.1193, failed at 1.1201 which was the first point mentioned above 1.1193, good for shorts. Downside saw what +28 pips.

EUR/USD. Bottom. 1.1114. Range break above 1.1182 and 1.1195, Below 1.1156, 1.1143. Overbought sell point 1.1227, Failure point 1.1206. Strategy. Longs above 1.1169, target 1.1227 then reverse to 1.1198, Failure point reversal 1.1187. Points on the way up, 1.1176, 1.1191, 1.1206, 1.1223, 1.1227.

Shorts below 1.1169, Target 1.1141. Watch here for reversal to 1.1169. Points on the way down, 1.1160, 1.1152, 1.1145, 1.1129, 1.1114 Bottom. Point 1.1141 must cross to go higher.

Brian Twomey Inside the Currency Market, btwomey.com

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