Inside the Currency Market: EUR/NZD

EUR/NZD. Bottom. 1.6800. Range break above 1.6983, Below 1.6786, 1.6659. Overbought sell point 1.6973, Failure point 1.6932. Strategy. Longs above 1.6886, target 1.6973 then reverse to 1.6929. Points on the way up, 1.6892, 1.6912, 1.6932, 1.6953, 1.6973.

Shorts below 1.6884, target 1.6842. Watch here for reversal to 1.6884 and higher. Points on the way down, 1.6876, 1.6866, 1.6856, 1.6846, 1.6821, 1.6800 Bottom. Point 1.6842 must cross to go higher.

Brian Twomey Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

Afternoon trade, Long 1.1285 dead stopped at 1.1324, reversed to 1.1262, + 39 longs, + 23 shorts from 85.

EUR/USD. Bottom. 1.1214. Range break above 1.1336, Below 1.1205, 1.1127. Overbought sell point 1.1330, Failure point 1.1302. Strategy. Longs above 1.1272, target 1.1330 then reverse to 1.1301. Points on the way up, 1.1276, 1.1289, 1.1302, 1.1316, 1.1330.

Shorts below 1.1270, target 1.1242. Watch here for reversal to 1.1270 and higher. Points on the way down, 1.1265, 1.1258, 1.1251, 1.1245, 1.1228, 1.1214 Bottom. Point 1.1242 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: 4 NZD Pairs

Not only were big breaks achieved in NZD/USD but big points were surpassed in NZD/JPY and NZD/CAD while NZD/CHF hangs in the balance. NZD/USD sits just above solid support below and if levels holds then NZD/USD could head higher. I report levels and overbought/ oversold determinations in four NZD pairs.

NZD/USD. Supports 0.6618, 0.6605, 0.6548. Most vital point is 0.6605. Currently NZD is oversold provided supports hold. The next big break occurs at 0.6977, a 372 pip range from 0.6977 – 0.6605. From current 0.6670, extreme sell points exists at 0.6813, 0.6801, 0.6754, 0.6744, 0.6943. Below buy points are located at 0.6072, 0.6082, 0.6091, 0.6141 and 0.6339. While NZD/USD longs look constructive, its imperative to watch 0.6618 and 0.6605 as those are defining points. Longer term, NZD/USD remains way oversold.

NZD/JPY. The 100 day average at 80.03 and below 79.96 determine next NZD/JPY direction. Current price sits at 80.03 and price is oversold both long term and intraday. Extreme sell points above are located at 82.01, 81.70, 81.64 and 81.14. BUy points are located at 72.22, 73.01, 73.73 and 76.39.

NZD/CAD. From current 0.8664, big breaks below are found at 0.8612 and 0.8609. NZD/CAD is oversold both short, long term and intraday. Sell points at extremes are located at 0.8786, 0.8725, 0.8754, 0.8820. Buy points 0.8378, 0.8368, 0.8214.

Brian Twomey Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

Morning trades, EUR/NZD short 1.7050 – 1.6972 +78, EUR/USD short 1.1252 – 1.1238 + 14, Total + 92.

More points and reversals added due to Fed Minutes at 2:00. Mention of economy good, raise rates on track, majority in favor to raise then EUR/USD drops like a rock. Big points remain 1.1175 and 1.1138 currently, these lines move so correct updates here.

EUR/USD. Bottom. 1.1228. Range break above 1.1350, 1.1431, Below 1.1219, 1.1140. Overbought sell point 1.1344 Normal, Failure point 1.1316. Fed Insanity, 1.1367, 1.1403, 1.1433. Channel top 1.1462. This point 1.1462 will not break. Strategy. Longs above 1.1286, target 1.1344 then reverse to 1.1315, At 1.1315 reverse to 1.1301, at 1.1367 reverse to 1.1326. Points on the way up, 1.1290, 1.1303, 1.1316, 1.1330, 1.1344, 1.1367, 1.1403.

Shorts below 1.1284, Target 1.1256. Watch here for reversal to 1.1284 and higher. Points on the way down, 1.1279, 1.1265, 1.1257, 1.1249, 1.1242, 1.1228 Bottom. Bottom breaks at 1.1228 then 1.1219 is next. On a day as Fed Day, it could break easily if 1.1228 breaks. Point 1.1256 however must cross to go higher, that point doesn’t change.

GBP/USD 1.5328 big break above,

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/NZD

EUR/NZD. Bottom. 1.6964. Range break above 1.7249, 1.7370, Below 1.6853. Overbought sell point 1.7129, Failure point 1.7090. Strategy.Long above 1.7051, Target 1.7129 then reverse to 1.7090 and 1.7070. Points on the way up, 1.7072, 1.7090, 1.7110, 1.7129.

Shorts below 1.7050, Target 1.7007. Watch here for reversal to 1.7050 and higher. Points on the way down, 1.7047, 1.7037, 1.7027, 1.7018, 1.7009, 1.6986, 1.6964 Bottom. Point 1.7007 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

Overnight, long 1.1252, target 1.1303, saw 1.1314, + 62, reverse to 1.1277 + 37, for reporting period. + 99 pips total.

EUR/USD. Bottom. 1.1197. Range break above 1.1385, Below 1.1124, 1.1046. Overbought sell point 1.1306, failure point 1.1280. Strategy. Longs above 1.1255, target 1.1306 then reverse to 1.1280. Points on the way up,1.1257, 1.1269, 1.1280, 1.1298, 1.1306.

Shorts below 1.1253, target 1.1225. watch here for reversal to 1.1253 and higher. Points on the way down, 1.1251, 1.1245, 1.1239, 1.1233, 1.1227, 1.1211, 1.1197 Bottom. Point 1.1225 must cross to go higher.

Big points below 1.1137 and 1.1173, point 1.1173 continues to rise, must break to see shorts gain speed then comes 1.1137. Fed Minutes this afternoon could see big breaks below if rate hike is still on the table.

More coming pairs coming I like EUR/NZD and EUR/CAD

Brian Twomey, Inside the Currency Market, btwomey.com