Inside the Currency Market: EUR/USD

Overnight trade, EUR/USD long 1.1187 to 1.1219, 5 pips above 1.1214 point, short range point 1.1234, + 32 pips. Long end of EUR/USD is dropping fast and daily, they are trying to drop this EU way lower.

EUR/USD. Bottom. 1.1167. Range break above 1.1289, 1.1355, Below 1.1158, 1.1093. Overbought sell point 1.1283, Failure point 1.1255. Strategy. Long 1.1225, Target 1.1283 then reverse short to 1.1254, at failure point 1.1255 then reverse short to 1.1241. Points on the way up, 1.1229, 1.1234, 1.1242, 1.1255, 1.1269, 1.1283. Always watch for failures as direction overall is down.

Short 1.1223, Target 1.1195. Watch here for reversal higher to 1.1223 and higher. Points on the way down, 1.1218, 1.1211, 1.1204, 1.1198, 1.1181, 1.1167 Bottom. Point 1.1195 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

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