Inside the Currency Market: EUR/USD

Overnight, EUR/NZD short 1.7195 to 1.6947, + 248, EUR/USD 1.1268 to 1.1222 + 46, total + 294

EUR/USD. Bottom. 1.1209. Range break above 1.1332, Below 1.1200, 1.1164. Overbought sell Point 1.1332, Failure point 1.1302. Strategy. Longs abve 1.1267, Target 1.1332 then reverse to 1.1299 and 1.1284. Points on the way up, 1.1269, 1.1273, 1.1288, 1.1302, 1.1317, 1.1332.

Shorts below 1.1265, Target 1.1237. Watch here for reversal to 1.1265 and higher. Points on the way down, 1.1263, 1.1256, 1.1248, 1.1244, 1.1239, 1.1230, 1.1209 Bottom. Point 1.1237 must cross to go higher.

EUR/NZD next, maybe EUR/CAD as well

Brian Twomey, Inside the Currency Market, btwomey.com

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