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

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