EUR/USD: Levels, Ranges, Targets

For today.

 

EUR/USD is miles overbought when it traded at 1.1226. Draghi drove EUR higher but the inverted USD yield curve is just as guilty as inversion doesn’t favor USD.

The EUR end point for today is 1.1301. I would be selling today. On the way down are 1.1270 then 1.1239 and 1.1197 and 1.1156. I would look for the 1.1239 break to target 1.1197 area. I wouldn’t push my luck past 1.1197 just yet.

I will update EUR  at about  11:00 am EST to determine any changes to the current levels.

Other requests, feel free anytime.

 

Brian Twomey

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