Brian Twomey: JULY 18 Trades

Good until 2:30 am EST

GBP/USD

Most important 1.3346

Bottom. 1.3194, achieves by 1.3227 and 1.3208. Target below 1.3227. If break below then target 1.3208. 1.3227 must still cross to go long again. If 1.3227 holds, target 1.3261 line.

Upper target 1.3330 and 1.3321, Watch 1.3346, tough area here, look for short reversal in this area at 1.3320’s to 1.3330’s.

GBP/JPY

Most important 142.20, 141.11, below 138.25

Bottom. 139.51 and 139.32. Achieves by 139.86 and 139.68. First target 139.86 then 139.68 and bottom 139.51. If 139.86 holds, long to 140.22. If 139.86 breaks lower then 139.68 next target. Long from this lower area to 140.22.

Upper target 140.92 and 141.11

EUR/USD

Most important 1.1090 then 1.1111. Above 1.1090, enter into caution zone again as 1.1135 becomes big break.

Bottom. 1.1011,a achieves by 1.1039 and 1.1025. First target 1.1139 then 1.1025. Down here is reversal zone.

Upper target 1.1090, watch 1.1111.

EUR/JPY

Bottom. 116.49 and 116.43. achieves by 116.72 and 116.58.

Upper target 117.54 and 117.42

AUD/USD

Most important 0.7728 and 0.7450

Bottom. 0.7549 achieves by 0.7563, 0.7556

Upper target 0.7628, 0.7622 and 0.7616

NZD/USD

Big break occurred at 0.7105. Next big break below 0.7033, then later target 0.6951

Bottom. 0.7045, achieves by 0.7063 and 0.7054.

Upper target watch 0.7105. A break targets 0.7111. This 0.7105 is not regular everyday market break, its a big line break point.

Enters danger area.

Big break above 106.69. needs first break 106.04, 106.36 then 106.69

Below targets 105.40 then 105.08 and 104.76. Take the breaks in direction of trend

GBP/AUD: Levels, Ranges, Targets

GBP/AUD from 1.7386 close, to cross higher 1.7416 must break and reaches this destination by 1.7397, 1.7411. Above 1.7416 targets 1.7444, 1.7470 and 1.7497 The ultimate break for GBP/AUD is 1.7547. Then far higher. For now, any price below 1.7547 is an overall short.

GBP/AUD sits on a solid base at 1.7275 and 1.7247. Bottom for next few hours is 1.7299 and big break to see bottoms is 1.7337 and 1.7306.

Upper target if we catch a dive under or at 1.7306 is target 1.7337. The perfect entry would be 1.7275 to target back to 1.7337 with a must break of 1.7306.

Brian Twomey, Inside the Currency Market, btwomey.com

GBP/CAD: Levels, Ranges, Targets

GBP/CAD most important line from 1.7130 close to cross above is 1.7160, GBP/CAD reaches 1.7130 by 1.7141, 1.7155, 1.7160 then targets 1.7187 and 1.7233. Shorts overall is the way unless 1.7448 break higher. Then GBP/CAD goes much higher.

Why GBP pairs is because all GBP pairs correlate + 90% to GBP/USD. Means all GBP pairs running on all cylinders or specifically all travel together.

Problem all GBP pairs at near top to middle range channel. Means overall, we buy dips and sell rallies type of trading.

GBP/CAD bottoms. 1.7044, 1.7020, 1.6993. Should 1.6993 break then 1.6953. Ultimately, we want to long at bottoms here. Prefect long is 1.7020 to 1.6993 then we target back to 1.7080 and 1.7117.

The opportunity in GBP pairs is to see a dip based on Turkey because its overall implication to Europe.

We don’t begin the week until this evening so what we want are quick hits, don’t marry the trades until we see how hard they hit these lows.