EUR 21 Pairs: Levels, Ranges, Targets

 

Following are most vital break points for EUR pairs as well as 24 hour ranges to accommodate interested in quick day trades. As mentioned in USD pairs, the 5 year average is in focus and within striking distance of current prices. Same scenario for EUR/USD as the 5 year average lies just above current price.

Viewed from EUR/USD, rises in current price become overbought quickly as EUR sits on its base of supports at 1.1687 and 1.1609. The 5 year average at 1.2067 then becomes severely challenged to break higher. Further, Noise and Signal indicators inform EUR cannot handle much higher. EUR’s main conundrum as a current exchange rate price is European interest rates are out of sync to the exchange rate. The same phenomenon is seen in AUD and OCR and the speculation is all nations are experiencing the same dilemma as interest rates between nations share exact similarities, rates and maturities. The difference between nation interest rates is nations align interest rates to each other so not to allow a gain in advantage. Think a Chess match as volatility is eliminated in market prices to allow the system to remain tightly bounded. In the 1930’s currency wars, focus was strictly on exchange rate advantage while 2017 focus is interest rates. The unknown question is the effect interest rate nation have to Repo rates and Repo rate nations such as ZAR, TRY, SEK, RUB, TRY,

 

EUR/USD Break point supports 1.1687 and 1.1609. At current 1.1600’s was 1.1100’s in June as EUR/USD broke higher and trended to 1.2000’s 3 months later. The 5 year average is located at 1.2067. The 24 Hour Range is located from 1.1848 to 1.2059 and 8 pips below the 1.2067, 5 year average. Further, the immediate range break for the next day is located at 1.2086. EUR above faces massive resistance.

EUR/JPY = Break point supports 129.69 and 128.71. Ironic, 5 year average = 128.71. Further, 253 day average and 200 day at 124.54 and 125.52 are currently far overbought. 24 Hour range = 133.11 to 134.95.

EUR/CHF = Break point supports 1.1304 and 1.1187. 5 year average = 1.1454. 24 Hour Range = 1.1324 to 1.1686.

EUR/CAD = Support 1.4679, Resistance 1.4787. 14 year average = 1.4565. 24 Hour Range 1.4671 to 1.4873. EUR/CAD price is misaligned in present location and a big move is ahead.

EUR/NZD = Supports 1.6105 and 1.5925. 5 year average = 1.5922. 24 Hour Range 1.6203 to 1.6345 and 1.6428.Nothing special in EUR/NZD as current price is fairly balanced and middle range.

EUR/AUD = Supports 1.4864 and 1.4830. 10 year average 1.4860. 14 year average 1.5354. 24 Hour Range 1.4933 to 1.5141. A favorite pair to trade against AUD/EUR.

EUR/GBP = Resistance points 0.8895 and 0.8937. 10 year average 0.8253. 24 Hour Range 0.8803 to 0.8925.

EUR/ZAR = Supports 15.3862 and 15.2061. 5 year average 14.2865. 24 Hour Range 15.7387 to 15.8771 and 15.9569.

EUR/SGD = Supports 1.5906 and 1.5868. 5 year average 1.5905. 24 Hour Range 1.6003 to 1.6225.

EUR/THB = Supports 39.0780 and 38.9321. 5 year average 39.9172. 24 Hour Range 39.3273 to 39.8724

EUR/SEK = Resistance 9.5560 and 9.6062. 10 year average 9.3584. 24 Hour Range 9.4911 to 9.6227

EUR/RUB = Supports 68.2898 and 67.9836. 5 year average 58.7876. 24 Hour Range 68.4858 to 69.4351. EUR/RUB is vastly oversold.

EUR/PLN = Supports 4.2618 and 4.2437. 5 year average 4.2307. 24 Hour Range 4.2454 to 4.3043. EUR/PLN is vastly oversold and a big move is head.

EUR/NOK = Resistance 9.3882 and 0.3254. 5 year average 8.6277. 24 Hour range 9.2765 to 9.4051.

EUR/MXN = Supports 21.0215 and 20.7640. 5 year average 18.5559. 24 Hour Range 21.0956 to 21.3881.

EUR/KRW = Supports 1322.3497 and 1314.1300. 5 year average 1339.6912. 14 year average 1411.6560. 24 Hour Range 1347.0509 to 1441.4414.

EUR/INR = Supports 75.2671 and 74.6001. 5 year average 75.2740. 24 Hour Range 77.0298 to 78.0976.

EUR/ILS = Supports 4.1562 and 4.1293. 5 year average 4.4780. 24 Hour Range 4.1546 to 4.2123

EUR/HUF = Supports 307.8770 and 306.6438. 5 year average 305.7317. 24 Hour Range 308.3853 to 312.6598 and 314.3418.  big is coming to EUR/HUF.

EUR/HKD = Supports 9.1243 and 9.0681. 5 year average 9.3646. 24 Hour Range 9.2839 to 9.3655 and 9.4126.

EUR/DKK = Supports 7.4390 and 7.4378. 5 year average 7.4519. 10 year 7.4502. 14 year 7.4498. 24 Hour Range 7.4028 to 7.4679 and 7.5055.  EUR/DKK contains severe range problems. This pair isn’t ready for breakout but rather the risk is absolute explosion.

Of 21 EUR pairs, 18 pairs are strongly supported.

To understand EUR as a risk pair, CAD/ZAR is the premiere indicator to determine ability to take on market risk. No better opposite currency pair exists to measure EUR than CAD/ZAR.

CAD/ZAR is well supported while EUR/USD is also well supported. CAD/ZAR supports 10.4827 and 10.2856. The 5 year average 10.0007. The CAD/ZAR  and EUR/USD relationship must break by either EUR far higher to break its 5 year average at minimum or CAD/ZAR must fall light years lower. The relationship further informs how tight are markets prices.

 

Brian Twomey

 

 

 

 

 

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s