Inside the Currency Market: EUR/USD

Overnight trades, 1.1360 – 1.1302, + 58 pips.

EUR/USD. Bottom 1.1066. Range break above 1.1239, 1.1006, 1.0954. Overbought sell point 1.1168, Failure point 1.1144. Strategy. Longs above 1.1123, Target 1.1162 then reverse to 1.1145. Points on the way up, 1.1124, 1.1134, 1.1144, 1.1155, 1.1168.

Shorts below 1.1121, Target 1.1093. Watch here for reversal to 1.1121 and higher. Points on the way down, 1.1117, 1.1105, 1.1100, 1.1095, 1.1080, 1.1066 Bottom. Point 1.1093 must cross to go higher.

Bigger picture, 1.1152 and 1.1226 big point breaks. Why the big drop. Remember these words, they are trying hard to drop this Euro to far lower levels. It will take time. Time came, its here. The same story remains.

Brian Twomey, Inside the Currency Market, btwomey.com

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