Inside the Currency Market: NZD/USD

Not much changed with NZD.

Bottom. 0.6508. Range break above 0.6523 then 0.6551, Below 0.6410. Overbought Sell point, 0.6569.

Strategy. Longs above 0.6541, target 0.6569. Points on the way up, 0.6544,0.6555, 0.6560, 0.6569. Shorts below 0.6540, target 0.6524 then Bottom 0.6508. Points on the way down, 0.6529, 0.6519, 0.6514.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

EUR/USD. Bottom 1.1040. Range break above 1.1108, Below 1.1082. Overbought Sell point 1.1167.

Strategy. Longs above 1.1096, target 1.1167. Points on the way up, 1.1109, 1.1117, 1.1136, 1.1143, 1.1151, 1.1169, 1.1167.

Shorts below 1.1095, Target 1.1067 then Bottom at 1.1040. Points on the way down, 1.1088, 1.1074, 1.1065, 1.1057, 1.1048, 1.1040 Bottom. Most important 1.1074.

Points are special locations where price will struggle tp cross above or below.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: NZD/JPY

NZD/JPY. Bottom 81.03. Range break above 81.64, Below 81.22. Overbought sell point 81.74 – 81.79. Note range break 81.22 V Bottom 81.03. Point 81.45 must break higher to target 81.74 – 81.79. Points on the way up, 81.45, 81.56, 81.65, 81.74, 81.79.

Below 81.43, targets 81.23 then 81.13, and Bottom 81.03. Price above 81.23 targets 81.33 then 81.43.

Brian Twomey Inside the Currency Market, btwomey.com

Inside the Currency Market: NZD/USD

NZD/USD Bottom 0.6522. Range break above 0.6571 then 0.6688. Below 0.6531 then 0.6423. Overbought sell point 0.6579 – 0.6583. NZD price as usual is well balanced. Since July 1, NZD/USD price movements have been tracking near perfectly with SGD/USD and is not concerned with the China story. Note prices NZD/USD 0.6500’s Vs SGD/USD 0.7107. But NZD/USD has not tracked well with EUR/USD nor AUD/USD as one would expect.

Strategy. Long above 0.6556, target and reverse short 0.6579 – 0.6583. Points on the way up, 0.6559, 0.6565, 0.6572, 0.6579, 0.6583. Most important point is this series 0.6565. Upon completion of 0.6583 – 0.6579 targets, short reversal target 0.6569 – 0.6567.
Shorts below 0.6554, target 0.6538 then bottom 0.6522. Points on the way down, 0.6550, 0.6543, 0.6540, 0.6538 ( target) then bottom 0.6522.

Updates as China opens and gets going.

Brian Twomey, Inside the Currency Market, btwomey.com

Inside the Currency Market: EUR/USD

Follow up to the few readers in CNY post. The Hong Kong Treasury Markets Association fixes HKD so to China CNY/HKD is a vital pair. New is JPY/USD tracks perfectly HKD/USD for the entire month of August and July so does CNY/USD, CNY/HKD. All eyes and prices were focused on HKD. Charted one couldn’t miss what was coming in CNY. MYR the Malaysian Ringgit is a smart nation, a smart and terrific currency pair. Why volatility lately, 1990’s Malaysia Ringgit met 2015 and wasn’t ready. But smart and most respectful Malaysians are revamping their interest rates. Another point missed in the commentary. More volatility will come in coming days. CNY should now become a one off and slow gradual depreciation. Cross the river by feeling the stones.

EUR/USD. Friday’s target 1.1114 met from 1.1170’s but violated by 7 pips to 1.1107, price closed at 1.1107. Point 1.1114 was the bottom. That violation warns EUR is heading lower. Bottom 1.1070. For early Asia until China gets going, EUR/USD bottom is locked tight. To go higher, breaks must be seen at 1.1124 – 1.1126. Most, most important 1.1124.

Strategy. Long above 1.1126, target 1.1197. Looks ambitious so must be aware of price changes in Asia. Points on the way up, 1.1132, 1.1139, 1.1145, 1.1152, 1.1166, 1.1197. below 1.1124, shorts target bottom at 1.1070. To go higher from 1.1107, point 1.1097 is vital. Point higher 1.1112, 1.111118, 1.1124.

More pairs coming,

Brian Twomey, Inside the Currency Market, btwomey.com