EUR/USD and G10: levels, Ranges, Targets

USD/CNY from Monday’s 6.2874 offered a gift to drop to 6.2691 and now trades 2 days later at 6.3056. Miles of upward distance remains as well as the continued buy dip strategy. USD/CNY is a terrific currency pair but as volatile as BRL because both pairs were built for distance. USD/HKD remains and lives overall in tiny ranges. From Monday USD/HKD waits for its impending dive. No interest and wasted effort in KRW.

EUR/AUD achieved new lows at 1.5919 from 1.6100’s. EUR/AUD above 1.5700’s will remain the long time gift and continued short strategy. Current price 1.6055 and short is the way. EUR/AUD is a reliable currency pair to hit targets as well because AUD , NZD and EUR are faithful as target trades.

EUR/GBP from 0.8797 also achieved new lows at 0.8719. EUR/GBP as well contains more downside. EUR/GBP remains a miserable currency pair because its mis positioned and no reason exists to trade this pair other than for professional purposes.
GBP/CHF as mentioned achieved 1.3500’s and dropped. GBP/CHF now trades 1.3513, 1.3500 to 1.3257. Nothing special here in GBP/CHF.

EUR/USD as mentioned required another downside before higher it goes. Held this week was 1.2323, 1.2360 and 1.2385. EUR/USD hit the gap at 1.2334. As mentioned again, watch the Gaps. I saw Gaps coming long ago and Gaps are now perfectly covered. Do or Die break point is here at 1.2228. Far lower upon a break. Watch 1.2236 today to challenge 1.2228. EUR/USD possible base as was seen in AUD requires further inspection.

USD/JPY. Had to trade to 106.61, it traded to 106.68. Bottom 105.16 held twice in the 105.60;s. Today’s downside break point now 105.89 and topside at 106.51 and big break point to see 108.00’s remains now 107.82.

USD/CAD break points below 1.2766 then comes 1.2660 Vs topside at 1.3092. Range 1.2766 vs 1.3092. Nothing special in CAD yet.

Remember EUR/NZD, it broke reported 1.6924 and 1.6893 from topside at 1.7088. Watch target at 1.6772 and above break points now 1.6893 and 1.6916.

NZD/USD Break Point and higher or lower line now 0.7230.

AUD/USD base was correct and AUD went higher to achieve so far 0.7715. Only points left for AUD/USD downside is 0.7688 and 0.7577. Upside break to see 0.7828 is located at falling 0.7772. I remain committed to 0.7828 and long any drop strategies.

AUD/NZD first achieved 1.0650’s from 1.0600 then achieved lows at 1.0534. No question to buy drop strategy and 1.0700’s then reconsideration to bother with AUD/NZD.

GBP/USD big break for lower now 1.3879 and 1.3842. April 23rd becomes final to BOE money market changes after a 2 year study to change money market structures. Say hello to the new AUD as the BOE will take part of the Great in the Great British Pound. The GBP character remains but the BOE chipped away at the edges to eliminate volatility. Overbought begins at 1.4181.

EUR/JPY first break point is located at the 5 year average at 130.78 then 14 year at 131.54 followed by 131.80. At 131.80 is required to travel higher but remember the top at 133.00’s. Rough road above for EUR/JPY.

GBP/JPY doe or die at 149.59.

AUD/CHF must break from current 0.7366 is located at 0.7422 then 0.7475.

NOK, SEK and many more pairs at 100 pips or better will post. Many exist. Above is just the warm up.

 

Brian Twomey