EUR/USD: Levels, Ranges, Targets

EUR/USD Bottoms 1.0860 and 1.0833, Upper target 1.0901, watch this target point cause vital level at 1.0890 and 1.0891 must break. 1.0890 was yesterday’s 1.0887. Today’s range is 55 pips, down 2 pips from yesterday.

Range breaks below 1.0816 and 1.0779, above 1.0959. Two vital points 1.0890 and 1.1007. 1.1007 was yesterday’s 1.1016 and a dropping line. Overall points above 1.0890, 1.0891, 1.0959 and 1.1007. The strategy is continue to sell any rallies if seen, highly doubtful. Targets are much lower, first to lower 1.0800’s then lower.

Yesterday’s HICP Inflation data was negative 0.2 from previous + 0.3. Deflation hit the Eurozone after 15 months and 4 interest rate cuts. This represents disaster for the ECB as more stimulus or cuts maybe on the way.

Brian Twomey, Inside the Currency Market, btwomey.com

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