EUR/USD Bottoms. 1.0873, 1.0846. Range breaks, 1.0944 and 1.1316 above, 1.0858 below. Vital points, 1.0894 below, 1.0975 above. Shorts need break 1.0894. Targets today, 1.0909. Price surpassed at writing, look for 1.0918, 1.0927 for reverse short.
Shorts must break vital points for today at 1.0907, 1.0904 and 1.0901. Target is again 1.0894 and eventual break. Price hits sell points today 1.0927 above and long at 1.0831. This up move today is very short term as a severe top is here. Funny how we also identified the top in AUD as well. AUD can go a little higher, EUR/USD doesn’t have that ability. EUR is ready for a massive drop. As it may go higher only makes the drop more violent. Total pip range 54 pips, up 4 pips from few days ago. Shortest term pip range 10 pips. Radical changes are coming to currency markets so shortest term ranges reported to monitor what’s ahead and to know the exact point to revert to new strategies. I’m prepared and ready for the switch.
The strategy is short and short any rallies as EUR/USD is heading light years lower over time.
Brian Twomey, Inside the Currency Market, btwomey.com