Inside the Currency Market: EUR/USD

EUR/USD. Bottom. 1.1276. Range break above 1.1359, Below 1.1306, 1.1240. Overbought sell point 1.1390, Failure point 1.1364. Strategy. Long above 1.1334, target 1.1390 then reverse to 1.1361, 1.1348. Watch 1.1359 Range point, may fail. Points on the way up,1.1338, 1.1351,1.1364, 1.1377, 1.1390.

Shorts below 1.1332, target 1.1304. Watch here for reversal to 1.1332 and higher. Points on the way down, 1.1326, 1.1320, 1.1313, 1.1307, 1.1290, 1.1276 Bottom. Point 1.1304 must cross to go higher.

Bigger picture 1.1147 and 1.1237 are rising and must break to take EU down further. 1.1595 above, a drop of 1 point since what 2 weeks. Showdown is coming.

Brian Twomey, Inside the Currency Market, btwomey.com

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