MXN, MYR, PHP, TRY, CNY V USD and EUR

USD/MXN. At current lifetime highs as is BRL. Banxico Mexico just raised rates as Carstens outlines an uncertain economic situation moving forward particularly Inflation. USD/MXN from current 18.13 is way way overbought, next points 17.56 and 17.87. EUR/MXN from current 20.00, next vitals 19.13 and 19.71, currently overbought.

USD/MYR. From current 4.2169, next points 4.2827 and 4.2221. Bank Negara is currently revamping its overnight rate in line with most central banks around the world. EUR/MYR from current 4.6500, next 4.6618, 4.6550, big point break 4.4621.

USD/PHP. From current 47.63, next 47.37, 47.35. Big point break below 45.95. EUR/PHP from current 52.53, next 52.22 and 51.57, big point break above 55.87. Current price is well balanced.

USD/TRY. From current 2.9244, next 2.9405 and 2.9409. EUR/TRY from current 3.2248, next 3.2015 and 3.2429. Both paisra are severely overbought by something in the vicinity of 500 – 1000 pips literally. TRY has severe problems.

USD/CNY. From current 6.5317, next 6.4897 and 6.4975, big point break 6.2720. EUR/CNY. From current 7.2026, next points 7.0661 and 7.1649. EUR/CNY is currently way oversold both intraday and long term.

Brian Twomey, Inside the Currency Market, btwomey.com

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