G10 Major Currency Pairs: Feb 26

Weekly ranges is a guide but not exact perfect yet its extremely close to perfect.

EUR/USD. Weekly Range 1.0693 to 1.0494. Bottom and top is dropping. If ever USD was driving a currency pair, its found in EUR/USD. Watching break points 1.0685 and 1.0636 for the week. Overall range breaks 1.0800’s to 1.0300’s. EUR/USD is top heavy means focus on downside.

AUD/USD. Weekly range 0.7713 to 0.7620, 93 pips and up from last week’s 77 pip range from 0.7630’s to 0.7701. Most vital break point above 0.7795. Watching above this week 0.7731 and below 0.7594 and channel bottom 0.7648 and 0.7639. AUD/USD price is low to Mid range, USD/AUD is mid to high.

GBP/USD Weekly Range 1.2380 to 1.2513. Watching this week 1.2431 and 1.2515. Break 1.2515 targets 1.2590’s yet 1.2590’s line should drop all this week. GBP/USD is heavily top heavy means focus on downside. USD/GBP at 0.8000’s last seen in 1984. GBP/USD 1.2202, 1.1873, 1.1280, 1.0932, 1.1200’s last seen in 1985 / 1984. Was then Plaza Accords 1985. No range break below until 1.2300’s.

NZD/USD. Weekly range 0.7258 to 0.7152. Weekly range aligns with USD/NZD at 0.7242 to 0.7155. Range breaks above 0.7240’s and 0.7250’s. Below range breaks 0.7150’s and 0.7000’s. Watching break points 0.7201, 0.7175 and 0.7123. NZD is clearly a problem currency pair because the current price Ratios are misaligned. What relieves the pressure is 0.7400;s or 0.6800’s.

 

Brian Twomey, Inside the Currency Market, btwomey.com

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