EUR/USD: Levels, Ranges, Targets

EUR/USD. Bottom. 1.1367. Big points 1.1683, 1.1588, 1.1554, 1.1509, 1.1467, 1.1434. Range above 1.1544, 1.1776. Below 1.1196, 1.1082, 1.0996. Target 1.1504, Failure point 1.1450. Overbought above 1.1504 if seen, begin sell 1.1504. Points 1.1429, 1.1432,1.1441, 1.1450, 1.1477, 1.1490, 1.1504.

Shorts below 1.1422, Target 1.1394, 1.1367 Bottom. Levels 1.1394 must cross to head long again.

Brian Twomey, Inside the Currency Market, btwomey.com

AUD/USD: Levels, Ranges, Targets

The commonality among currency pairs especially since Draghi cut Eonia is curves are fat fat in the middle and its driving all currency prices. Either ends are alright but its the fat middle driving the show and must normalize. See a commodity price, stock market price or other market price involved in this assessment, hope not cause it doesn’t exist, its found in currency prices only.

AUD/USD. Bottom. 0.7504. Big point breaks above, 0.7551, 0.7557, 0.7568, 0.7570, 0.7577. Pip range today 20 long term, 15 short term. The RBA is trying hard to hold AUD/USD down. The top is miles away and AUD sits on the floor. Caution shorts. Tops are found at 0.7609, 0.7597, 0.7579. All points are not targets today yet, but watch these points if fireworks occur on Fed Minutes. They will result in terrific sell points.

Range points above 0.7566, 0.7695. Below 0.7516, 0.7466, 0.7315. Targets today 0.7582, Failure point 0.7569. Watch 0.7566 range point for additional sell point. Target met at 0.7582, sell to 0.7562. Target at 0.7555. Failure at 0.7566, sell to target 0.7554. Points on the way up, 0.7550, 0.7560, 0.7569, 0.7575, 0.7582.

Shorts below 0.7541, target 0.7522, then 0.7512, then bottom 0.7504. Points on the way down, 0.7539, 0.7536, 0.7532, 0.7527, 0.7515, then bottom 0.7504.

Brian Twomey, Inside the Currency Market, btwomey.com

EUR/USD: Levels, Ranges, Targets

The 1 year EUR/USD V DXY line is minus 80.45 V 186.32. If ever 80.45 turns positive, EUR/USD heads to upper decks. But the 1 year line is out of kilter with its partner averages from 2 – 10 years as they range minus 60’s and 168’s. The 1 year line rose 56 points in 4 months while 2- 10 year lines rose about 34 points. For now and the month, no big deal here as the trend remains down, top is here and growing worse. The long term long trade is not here and not recommended against present numbers unless we see a significant drop then a re evaluation. Last EUR/USD V DXY article was also submitted to investing.com. They don’t like detail in their articles, only general descriptive writings.

Bottom. 1.1299. Big Points above 1.1366, 1.1368, 1.1379, 1.1440, 1.1484, 1.1611. Range points above 1.1724, 1.1494. Below 1.1220, 1.1129, 1.1000. Target 1.1434, Failure point 1.1381. Target met at 1.1434, sell to target 1.1395, Target met at 1.1381, sell to target 1.1369. Above 1.1434 opens flood gates to 1.1472, 1.1511, 1.1588. Not likely above 1.1472 cause ranges compress severely at this juncture. Yet the top is also growing much worse so sell rally mode. Points on the way up, 1.1369, 1.1381, 1.1401, 1.1421, 1.1427, 1.1434.

Sell below 1.1354, target 1.1326 then bottom 1.1299 and bottom range point 1.1220. points on the way down, 1.1350, 1.1340, 1.1334, 1.1316, 1.1299 bottom. Longs from 1.1299 must cross 1.1316 to head higher.

Brian Twomey, Inside the Currency Market, btwomey.com

NZD/USD: Levels, Ranges, Targets

Commodity currencies is another misguided term without foundations. Australia and Iron Ore is vital to exports for the past 200 years yet have we seen Iron Ore drops and AUD/USD rise. Popular is association of WTI crude to USD/CAD. Canada Oil is WCS and a different crude to WTI. Ever seen CAD and Crude prices de couple. Of course. Why. Look outside the currency price or currency markets then trade answers won’t be found. WTI has Correlation associations to USD/CAD but correlations revolve in levels which changes the price associations between two financial instruments. Correlations may change daily, weekly, monthly. Last check, CAD and WTI actually shared a loose correlational association which means, its a failed association and unreliable to trade. EUR/USD and DXY share 98% Correlations. How long will this association last. Not very long. Then Correlations all around will see abrupt changes upon breakouts. Not popular but again the currency price is the least understood price in all of markets.

NZD is severely overdone and is set to go on a long journey southbound. Sell rallies will last long into the future. Big points are located at 0.6813, 0.6804, 0.6801, 0.6795. Tops are found at 0.6893, 0.6863.

NXD/USD. Bottom. 0.6761. Range point above 0.6837, 0.6880, 0.6899. Below 0.6753, 0.6692, 0.6632. Target 0.6823, Watch 0.6853 on break of 0.6823. Target at 0.6823, sell target 0.6809. Target at range point 0.6837, sell to 0.6819.

NZD/USD shorts on break 0.6795, target 0.6778, 0.6761 bottom. Then 0.6753 range point.

EUR Next.

Brian Twomey, Inside the Currency Market, btwomey.com