Inside the Currency Market: EUR/USD

EUR/USD from 1.1234, dead stopped 1.1252, long before 1.1271 failure point. EUR/CAD just dead stopped at reported 1.5091, EUR/NZD is off target by about 60 pips. Will post EUR/CAD and EUR/NZD in minutes.

EUR/USD. Bottom. 1.1196. Range break above 1.1266, 1.1279, Below 1.1239, 1.1226. Overbought sell point 1.1324, Failure point 1.1290. Strategy. Longs above 1.1253, Target 1.1324 then reverse 1.1288, at 1.1290 reverse to 1.1271. Points on the way up, 1.1266, 1.1275, 1.1291, 1.1307, 1.1324.

Shorts below 1.1253, Target 1.1224. Watch here for reversal to 1.1253 and higher. Points on the way down, 1.1244, 1.1236, 1.1231, 1.1226, 1.1217, 1.1210, 1.1196 Bottom. Point 1.1224 must break to go higher.

Again we watch range points closely. Note how below target is 1.1224 yet range point 1.1226.

Brian Twomey, Inside the Currency Market, btwomey.com

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