EUR/USD and Cross Pairs: Levels, Ranges, Targets

 

EUR/USD is not only overbought currently but any rises travels to further overbought. In 5 of the 7 currency pairs in the EUR/USD complex, range indicators offer outright sell signals. EUR/JPY is miles overbought and will lead the way lower for EUR pairs. EUR/JPY overbought is consistent to overbought GBP/JPY and outright sells in NZD/JPY and AUD/JPY.

EUR/USD. Break points 1.1133 and 1.1009. Must breaks here to see far lower prices. Extreme sell points 1.1439 and 1.1491. Extreme long points 1.1295 and 1.1245. Upon 1.1133 break then next comes 1.1004 and 1.0986.

EUR/JPY. Break points 127.84, 127.32 and 125.06 Vs 131.52, Currently miles overbought, outright sell from Range indicators.

EUR/CHF. Supports and break points 1.0870 and 1.0830. Overbought and outright sell from range indicators. Consistent to GBP/CHF as big move is ahead yet AUD/CHF and NZD/CHF are fairly neutral. Blame the SNB as they hold their currency pairs in tighest ranges. My thought are the SNB won’t allow EUR/CHF to break vital supports.

EUR/CAD. Break points 1.4756, 1.4706, 1.4578 and 1.4325. Nothing special in EUR/CAD and not consistent to oversold AUD/CAD, NZD/CAD and GBP/CAD. To understand EUR/CAD, it can be a “funny” pair at times because the Correlations to EUR/USD constantly revolve from negative to positive and vice versa. Currently, its neutral.

EUR/NZD. Break points 1.5586 and 1.5505 Vs 1.5893. Break points consistent to NZD/EUR. Nothing special in EUR/NZD.

EUR/AUD. Break points 1.4720 and 1.4616 Vs 1.4890 and 1.5389. Outright sell in Range indicators while averages are more overbought than oversold.

EUR/GBP. Break points 0.8627 and 0.8712. Miles overbought as usual and outright sell from Range indicators. I don’t nor ever liked EUR/GBP because daily pip movements are purposely restricted.

 

Brian Twomey

 

 

 

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