Inside the Currency Market: EUR/USD

Morning. EUR/USD short 1.1372 – 1.1332, + 40, see long 1.1344 – 1.1358, + 14 more pips.

EUR/USD. Bottom. 1.1293. Range break above 1.1403, Below 1.1297, 1.1257. Overbought sell point 1.1404, Failure point 1.1380. Strategy. Longs above 1.1351, target 1.1404 then reverse to 1.1377. Points on the way up, 1.1367, 1.1380, 1.1392, 1.1404.

Shorts below 1.1349, Target 1.1321. Watch for reversal here to 1.1349 and higher. Points on the way down, 1.1342, 1.1336, 1.1330, 1.1323, 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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