Flow Reports on site for interested and must remain on site. Who’s buying and selling DXY, all corporates. Banks are dealing in Euros, central banks aren’t involved in Euros in any big way. In the last week, central banks bought a few Euros but were more active over the past 4 weeks. Everyone else were selling and that includes leveraged accounts, corporates and banks. Leveraged accounts are speculators like hedge funds. Sometimes they hit right others times not. Overall not a bunch of activity in Euros. JPY is dead from all sectors. Corporates are mostly involved in GBP, central banks aren’t involved in GBP currently. Two categories most important in Flow Reports are Central banks and Corporates. They are the smart investors while the remainder are just speculating. They may win or lose but they aren’t the most knowledgeable investors. I may add to the flow reports as I have tons and tons of info and data.
Afternoon trade lacked a strategy. I’m operating under a new system so first faux pas seen. Just as well, EUR/USD didn’t perform.
EUR/USD. Bottom. 1.1196. range break above 1.1279, 1.1266, Below 1.1239, 1.1226. Overbought sell point 1.1324, Failure point 1.1290. Strategy. Long above 1.1253, Target 1.1324 then reverse to 1.1288. points on the way up, 1.1260, 1.1275, 1.1290, 1.1307, 1.1324.
Shorts below 1.1252, Target 1.1224. Watch here for reversal to 1.1252 and higher. points on the way down, 1.1244, 1.1236, 1.1231, 1.1226, 1.1224, 1.1217, 1.1210, 1.1196 Bottom. Point 1.1224 must cross to go higher.
Watch range breaks closely. Note how this afternoon points and ranges didn’t change. Could be a range night.
Brian Twomey, Inside the Currency Market, btwomey.com