Chart traders are best served today and days ahead by monthly time frame views since its the location of the trigger that drives currency pair prices in passed days, today and will drive prices for the remainder of the week, at least. For interested, trades, fundamental data, special reports will post at fxstreet.com. Again I thank Brother Dale ‘Friend of Forex” Live Analysis Room fxstreet.com, Francesc, Goncalo and the able professionals located inside Fxstreet whose responsibilities ensure the timely daily running of fxstreet.
Future posts coming, EUR/USD V DXY, CAD and Oil drivers. CAD is quite interesting as I viewed many oils to determine exact CAD drivers. WTI is a tiny part of the story yet it also violates the principles to follow another financial instrument in relation to currency prices.
The top in EUR/USD remains, caution longs, not recommended.
EUR/USD. Bottom. 1.1213. Big break points today above 1.1528, 1.1433, 1.1355, 1.1295, 1.1282, 1.1279, 1.1271. Below 1.1173, 1.1153, 1.1127, 1.1102, 1.1058. Ranges above 1.1586, 1.1478, 1.1321, Below ranges, 1.1218, 1.1065, 1.0962. Break points serve for the day, range breaks serve message to future price direction. Target 1.1362, Failure point 1.1302, wide variation, caution. Target me at 1.1362, sell target 1.1316. Target at 1.1302, sell target 1.1286. Points on the way up, 1.1274, 1.1286, 1.1294, 1.1302, 1.1309, 1.1320, 1.1332, 1.1362. Look for failure and sell point in the 1.1302 – 1.1309 vicinity.
EUR/USD Shorts below 1.1268, Target 1.1240, 1.1226, 1.1213 Bottom. Points on the way down 1.1266, 1.1261, 1.1250, 1.1243, 1.1228, 1.1213 Bottom.
Brian Twomey, Inside the Currency Market, btwomey.com