EUR/USD and G10: Levels, Ranges, Targets

EUR/CAD achieved mentioned 1.5300’s weeks later. EUR/CAD contains deep problems and GBP/CAD is the better trade.
EUR/AUD from Monday’s post broke 1.6037 then target at 1.5939 traded to 1.5960.

Overbought USD/CAD entry at 1.2860 and 1.2899 traded to 1.2915 and achieved lows at 1.2804 for + 100 ish pips. What’s 100 ish pips is 100 of 300 available. Again, nothing special in USD/CAD except quick trades. Break points are now located from 1.2741 to 1.3049 and USD/CAD remains in sell rally mode.

EUR/NZD now trades at critical 1.7089. Next target is located at 1.7027. Again, EUR/NZD is a far better pair to trade than GBP/NZD as entry, exits and targets are crystal clear. Overall range is located from 1.7240 to 1.7089 for 151 pips. Below 1.7089, range becomes 1.7089 to 1.6984 for 105 pips. Overall range is 255 pips but split between break points.

EUR/USD 5 year average at 1.1947 matches against USD/JPY’s 5 year at 110.01.

USD/JPY solid break points today above are located at 110.04, 110.08, 110.17, and 110.43. USD/JPY must sustain 110.01 then next target becomes 110.95 but 110.01 assumes EUR/USD breaks 1.1947 and its not likely today. The problem with USD/JPY this week is any price above 109.69 enters a gray area and its not a trade able zone. The overall path to break 110.01 is not clear.
USD/JPY below break points is now 108.71.

EUR/USD today is well contained at 1.1977, 1.1970, 1.1955 and ironically 1.1947. EUR/USD today has every ability to trade to 1.1947 but no ability to break and hold. Two factors against a further break is deeply oversold EUR/USD and Euro interest rates radically dived overnight. A radical dive or radical move overall in Euro interest rates is a non existent concept. Even when the Fed raised, Euro interest rates remained at current levels. Don’t take 1.1947 lightly.

EUR/USD break point today is found at 1.2184 and an upside target right around 1.2058 on a break of 1.2052.

GBP/USD today upside targets finds massive resistance from 1.3660 to 1.3674.

GBP/JPY break point is now 150.79.

 

Brian Twomey

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