Inside the Currency Market: EUR/USD

Afternoon trades. AUD/USD short 0.7284 – 0.7198, + 86 Pips, EUR/NZD long 1.7016 – 1.7197 + 181, EUR/USD 10 pip range 1.1387 – 1.1377. Total pips + 267.

EUR/USD. Bottom. 1.1337. Range break above 1.1528, Below 1.1263, 1.1197. Overbought sell point 1.1445, Failure point 1.1421. Strategy. Longs above 1.1396, target 1.1445 then reverse to 1.1420 and 1.1408. Points on the way up, 1.1409, 1.1421, 1.1433, 1.1445.

Shorts below 1.1394, Target 1.1366. Watch here for reversal to 1.1394 and higher. Points on the way down, 1.1391, 1.1385, 1.1379, 1.1367, 1.1352, 1.1337 Bottom. Point 1.1366 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

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