Exclusive to fxstreet and interested readers is the ability for readers to profit easily by my trades as I continue day in and day out, year after year to hit perfect targets. EUR/USD for now is the pair I chose but it doesn’t matter which pair since perfect targets achieve in any pair and many times, multiple pairs at one time. Its quite easy to do this.
Charts and stops are needless tools that long ago left the repertoire. Currency pairs are two sided affairs where USD controls EUR as much as EUR control of USD. JPY controls EUR as much as EUR controls JPY in the EUR/JPY combination. The slash mark in currency pairs is not only deceptive to throw off the unsuspected but a PHD dissertation can be written bout that mark. All that is needed to trade currency pairs is a price.
A well known and well forecasted structure exists to currency markets and this structure hasn’t changed in literally 200 years beside a few minor changes. We’re trading under one of those minor structural changes since June 2016 and the central bank revamp. I know, understand and trade this structure as well as the few traders I assist. Everyday we trade 8 currency pairs, twice per day and hit perfect targets.
EUR/USD. This morning’s bounce came from 1.0725 and rose to reported 1.0774 and then reversed short again. Massive and many supports existed from 1.0697 to 1.0720.
Range: 1.0900 to 1.0698, now 202 pips and + 4 pips from this morning. Reported this morning EUR/USD was traveling on a correction higher and trades currently at range tops. Topside range break is located at 1.0900 and bottom range break at 1.0629 and 1.0530.
Bottoms. Located at 1.0705 but many and massive supports exists from 1.0707 to 1.0730. Look for the bounce from 1.0730 to 1.0720’s.
Levels. Bounce from bottoms takes EUR/USD to 1.0785 and 1.0788 then the reverse short again as we play ping pong. At 1.0788 top is the point holding EUR to travel higher to next level at 1.0822 and 1.0826.
EUR allows EUR/USD to travel higher as USD provides the supports.
Brian Twomey, Inside the Currency Market, btwomey.com