EUR/USD: Levels, Ranges, Targets

Failed to mention in previous trades, the top remains in EUR/USD. This top is the same old ongoing story. Its a matter of time before the big drop occurs. But when EUR/USD rises in tops, its a warning EUR is not the driver rather USD and the Fed are drivers. Any price consolidation is an opportunity for severely wacked out topside ranges to compress. Many bullish calls I assume was the result to view the out of sync top ranges. Still 2 weeks remain in the monthly model. At end of month, I’ll post again the model.

EUR/USD. Bottom. 1.1212. Big points above 1.1526, 1.1465, 1.1432, 1.1292, 1.1277. Ranges above 1.1353, 1.1529, 1.1655. Ranges below 1.1183, 1.1013, 1.0894. Target 1.1352, Failure point 1.1297. Target met at 1.1352, sell target 1.1310. Target met 1.1297, target 1.1283. Points on the way up, 1.1271, 1.1274, 1.1286, 1.1297, 1.1324, 1.1352.

Shorts below 1.1267, Target 1.1239, 1.1325, 1.1212 Bottom. Points on the way down 1.1254, 1.1249, 1.1243, 1.1227, 1.1220, 1.1212 bottom. Point 1.1239 must cross to get long again, target longs 1.1253.

Brian Twomey, Inside the Currency Market, btwomey.com