EUR/USD: Levels, Ranges, Targets

The major pairs with best movement abilities is EUR/USD, USD/CAD and USD/JPY by design and construction. The Great British Pound once had the same abilities but the BOE stopped GBP movements and will only allow a short price distance.

Refer to monthly EUR/USD V DXY and the 200 pip allowable range movements between each other. So far 6 trading days and the range held. EUR/USD is in good shape but DXY is a problem as the inside numbers are calling for a big explosive move. If the FED doesn’t straighten the situation, the market will impose its will on the FED. The longer the FED waits, the bigger the move.

EUR/USD. Bottom 1.1363. Again 2nd day and a problem on the downside. Why. EUR/USD price is literally like NZD and AUD flat on the floor. Alternative bottoms, 1.1335, 1.1306, 1.1302.

Upper targets, 1.1374, 1.1396 and again 1.1420.

Note breaks above, 1.1498, 1.1447, 1.1429, 1.1383, 1.1376, 1.1374. Most important 1.1383, was a tough break point last week and into this week.

Below break points, 1.1253, 1.1247, 1.1192, 1.1170. Big base at 1.1007 and monthly average at 1.1090. Most important break below 1.1253 and 1.1247, never trade between both prices.

Brian Twomey, Inside the Currency Market,

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