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

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