Inside the Currency Market: EUR/USD

Afternoon trade. Long 1.1442, Dead stopped 1.1488, between target 1.1493 and Fail point 1.1461. + 46 pips. Then reverse to 1.1466 was perfect, + 22, Total pips + 68 pips.

Price this morning was set for a reversal, a top was here and price was heading lower. Then Retail sales was dismal. Price is now sufficiently overbought all around, from averages 5 – 200, from 1.1141 and 1.1121. The big point break above remains 1.1596. A break higher would see a deeper correction, a failure then we head again down and in the direction of the overall trend. The point 1.1596 is immovable since last Thursday. Once the downtrend begins again, the slide will come as fast as it took to get to current levels.

EUR/USD. Bottom. 1.1408. Range break above 1.1573, Below 1.1359, 1.1293. Overbought sell point 1.1518, Failure point 1.1494. Strategy. Long above 1.1467, target 1.1518 then reverse to 1.1492, 1.1480. Points on the way up, 1.1470, 1.1482, 1.1494, 1.1506, 1.1518.

Shorts below 1.1465, Target 1.1437. Watch here for reversal to 1.1465 and higher. Points on the way down, 1.1463, 1.1457, 1.1451, 1.1445, 1.1439, 1.1430, 1.1422, 1.1408 Bottom. Point 1.1437 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

Morning trade, EUR/USD Long 1.1411 – 1.1447, between Failure and target, + 36, reverse to 1.1409, below target 24 and 36, + 38, Total pips + 74.

EUR/USD Big points 1.1596 above, 1.1219 and 1.1141. Big Breaks. EUR/JPY 136.93, 135.40, no change over many days. EUR/CAD 1.4640, EUR/NZD 1.7036, EUR/GBP 0.7314, EUR/AUD 1.5727

EUR/USD. Bottom. 1.1383. Range break above 1.1547, 1.1335, 1.1268. Overbought sell point 1.1493, Failure point 1.1461. Strategy. Long above 1.1442, Target 1.1493 then reverse to 1.1466 and 1.1453. Points on the way up, 1.1457, 1.1469, 1.1481, 1.1493.

Shorts below 1.1440, Target 1.1412. Watch here for reversal to 1.1440 and higher. Points on the way down, 1.1432, 1.1426, 1.1414, 1.1398, 1.1383 Bottom. Point 1.1412 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

Overnight trade, long 1.1396 violated Failure point 1.1421 by 6 pips to 1.1427, + 31 ten reversed to 1.1400, my point 1.1408, + 27. Total pips + 58.

EUR/USD. Bottom. 1.1352. Range break above 1.1543, Below 1.1278, 1.1212. Overbought sell point 1.1460, Failure point 1.1436. Strategy. Long above 1.1411, Target 1.1460 then reverse to 1.1436 and 1.1423. Points on the way up, 1.1424, 1.1436, 1.1448, 1.1460.

Shorts below 1.1409, target 1.1381. Watch here for reversal to 1.1409 and higher. Points on the way down, 1.1400, 1.1394, 1.1388, 1.1382, 1.1367, 1.1352 Bottom. Point 1.1381 must cross to go higher.

Brian Twomey, Inside the Currency Market, btwomey.com