EUR/USD: Levels, Ranges, Targets
Today’s EUR/USD price is well balanced. Overall, long and short term remain in struggles against each other. EUR/USD wants to fly higher but lacks ability. EUR/USD troubles begin at upper 1.1200’s and its why we see today’s upper range break at 1.1296. Price in upper ranges can’t hold. Only Yellen can force EUR higher but then EUR goes to upper strasosphere where it cannot remain for long. GDP is overold and should come higher. Fact is Oversold, come higher hasn’t been calculated.
EUR/USD Bottom 1.1136.
Range breaks above 1.1296, 1.1489, 1.1525.
Range breaks below 1.1090, 1.0903, 1.0869.
Upper targets 1.1273, 1.1244, 1.1216.
Lower targets. 1.1164, 1.1153, 1.1136 Bottom.
Most important breaks today, 1.1226 and 1.1198. Both must break to go higher. 1.1198 is the main signal line and its dropping.
Upper points 1.1353, 1.1296, 1.1275, 1.1215, 1.1200,
Lower points 1.1094, 1.1090, 1.1058, 1.1023, 1.0979.
Brian Twomey, Inside the Currency Market, btwomey.com