Inside the Currency Market: EUR/USD

Morning trade saw 1.1356 lows from 1.1372, above saw 1.1376, 20 pip range. Big points below 1.1138, 1.1195, 20 day average driving EUR/USD. Big break above 1.1596, same as Friday, no change but its falling since last Wednesday.

EUR/USD. Bottom. 1.1313. Range break above 1.1396, 1.1463, Below 1.1343, 1.1277. Overbought sell point 1.1430, Failure point 1.1404. Strategy. Long above 1.1371, target 1.1430 then reverse to 1.1400 and 1.1387. Points on the way up, 1.1376, 1.1381, 1.1390, 1.1404, 1.1417, 1.1430.

Shorts below 1.1370, target 1.1341. Watch here for reversal to 1.1370 and higher. Points on the way down, 1.1365, 1.1358, 1.1351, 1.1344, 1.1327, 1.1313 Bottom. Point 1.1341 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

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