Inside the Currency Market: EUR/USD

Afternoon trade, short 1.1370, target 1.1341 dead stopped 1.1344, +26 pips.

Range overnight trades, 57 total pips. 1.1135 and 1.1193 remain vital and persistent points below. For example, at 1.1250, points become 1.1186 and 1.1134. The point 1.1193 is movable, 1.1135 is not. That will take a solid break later. 1.1596 remains the break point above.

EUR/USD. Bottom. 1.1293. Range break above 1.1376, 1.1443, below 1.1323, 1.1257. Overbought sell point 1.1410, failure point 1.1384. Strategy. Longs above 1.1351, target 1.1410 then reverse to 1.1380 and 1.1367. Points on the way up, 1.1356, 1.1370, 1.1384, 1.1397, 1.1410.

Shorts below 1.1350, Target 1.1321. Watch here for reversal to 1.1350 and higher. Points on the way down, 1.1345, 1.1338, 1.1331, 1.1324, 1.1307, 1.1293 Bottom. Point 1.1321 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

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