Inside the Currency Market: EUR/USD

Morning trades. EUR/USD. Long 1.1152, target 1.1213 Dead stopped 1.1209, +57, then shorts to stated 1.1183 dead stopped 1.1189, + 26, Total pips + 83. EUR/AUD. Long from 1.5778, Target 1.5862 Dead stopped 1.5938, + 160 pips. EUR/CAD. Short 1.4779 first Dead Stopped 1.4763, my point 1.4761 then went long to 1.4860, short of reported 1.4879. + 59 Long, + 35 short, total 94 pips. Total pips 3 trades, 2 hours = 337 Pips.

EUR/USD. Bottom. 1.1132. Range break above 1.1303, 1.1463, Below 1.1075. Overbought sell point 1.1233, Failure point 1.1207. Strategy. Long above 1.1191, Target 1.1233 then reverse short to 1.1212. Points on the way up, 1.1198, 1.1207, 1.1220, 1.1223.

Shors below 1.1188, Target 1.1160. Watch here for reversal to 1.1188 and higher. Points on the way down, 1.1176, 1.1171, 1.1165, 1.1155, 1.1147, 1.1132 Bottom. Point 1.1160 must cross to go higher.

Major points 1.1138 and 1.1161 for longer term views.

Brian Twomey, Inside the Currency Market, btwomey.com

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