EUR/USD: Levels, Ranges, Targets

As mentioned Target 1.1364 done, reverse short to 1.1333 target achieved 1.1317. Trades posted are all hand calculated.

EUR/USD is rising in a top so not a EUR move happening. The curve still points down. Until significant breaks occur, direction overall is still short. EUR/USD is currently on the do or die verge. Yellen says slow and gradual. 100 basis points separates most Negative Interest rate nations especially Europe. Normal times, 100 basis points or 1% is meaningless

Bottom. 1.1267. Larger range 1.1267 – 1.1381. Range points above 1.1357 and 1.1446. Below range points 1.1288, 1.1201. Target 1.1448 and fail point target 1.1381. Level 1.1381 is vital break to go higher to target 1.1414, 1.1431 and 1.1448. Level 1.1448 opens flood gates higher to 1.1612, 1.1777 and 1.1830. Note 1.1448 target and 1.1446 range point, tough area to break. Look for target at fail point at 1.1381 then reverse short to target 1.1352. Points on the way up, 1.1326, 1.1339, 1.1353, 1.1367, 1.1381.

Shorts. Break 1.1322 targets 1.1294 then bottom at 1.1267. Longs from 1.1267 targets 1.1294 then 1.1322. Points on the way down, 1.1317, 1.1310, 1.1303, 1.1296 then range point at 1.1288. Then 1.1281 and Bottom 1.1267.

Pip range 23 pips short and 97 long term.

Brian Twomey, Inside the Currency Market, btwomey.com

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