EUR/USD and G10: Levels, Ranges, Targets

The generalized word volatility as in price movement is defined by example. EUR/USD’s 5 day average at 1.1804 is currently overbought and needs correction. A correction to align the averages targets 1.1879. How long before 1.1879 achieves target. We’ll count the days.

To continue, prior targets took 3 to 7 days roughly. This is astounding and quantifies how dead is volatility. An overbought / oversold average target should take as little as 20 minutes to as much as 1 hour to compare to our old trades in fxstreet.net days. The trade should pay at least 50 pips from fxstreet examples and many examples exist. The 1.1879 target may not see its achievement until, well that’s where the price to time components factor. In today’s markets. a target should hit at most in 2 to 2.5 days. And this is kind to the calculations.

Many times was written this day would come and strategy changes were mandatory. Markets didn’t change but central banks changed markets. This condition could last well into 2018 easily. As conditions changed, we changed strategy so not to rely on days wait for targets.

Overall, EUR/USD’s 3 big break points are located at 1.2026 , 1.1797 and 1.1695. At 1.2026 is the 5 day average and a huge break. Means far higher for EUR/USD but it also means the EUR would enter a new day, not seen since the 1.3200’s break below in 2014. The 1.1695 line is fast rising and its the line to view in days ahead. This line must break to see shorts gain speed.
For today, a break of 1.1942, targets 1.1879 and 1.1860. Below must break 1.1913 then comes 1.1899, 1.1882 and 1.1867. How’s 1.1879 today, not looking good.

AUD/USD is approaching vital break at 0.7681 while NZD break point is located at 0.6987.

USD/JPY break is 111.62 and 112.16. See EUR/AUD today? Oversold AUD/EUR was responsible.

GBP/USD is well supported by 1.3159 and 1.3151. But GBP/JPY is in do or die mode at 147.51 and 146.90. GBP/JPY’s brother EUR/JPY is also at crucial breaks at 131.67, 131.55 and 131.17.

 

Brian Twomey

 

 

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s