EUR/USD and G10: Levels, Ranges, Targets

The currency price is again the topic.

How about the number 2500. The EUR/USD bottomed at 1.03 and headed to a correction but to where was the end of the correction. EUR/USD 1.03 plus 2500 = 1.2800. GBP/USD bottomed at 1.1900. GBP/USD 1.1900 plus 2500 = 1.4400.
How is Danske, Society General and Bank of America doing against EUR/USD 1.3000. Will USD/JPY see 116 in 3 months as is the current prognostication for Bank of America. Of course not and don’t push your luck to 113.

A 116 USD/JPY assumes EUR/USD 1.1300’s. EUR/USD 1.1200’s and 1.1300’s are absolute bottom of the range while 113 USD/JPY is top. Do we know what we are doing.

From 1998 to 2008 and from 2008 to 2015, the number 2500 held deep significance but how it stacks up today and how close is 2500 is unknown. To know 2500 is to enter and calculate many numbers and most won’t perform the necessary work.
USD/JPY and JPY cross pairs are creatures of a far different animal than its counterpart currency pairs as 2500 requires a constant adjustment. Again, this is much work to know.

See EUR/AUD target at 1.5939 Wedneday. Its traded to 1.5863. It also required an adjustment. Remember the overall target at 1.5738 from 1.6100’s. Don’t lose sight. See EUR/NZD 1.7027 target, it traded to 1.7006 and required adjustment.
What are prices banks trade. Always the wrong price as they don’t trade central bank numbers but trade their own thin air, phantom numbers.

Short term simple moving averages. How do you know the price of the average is correct. How is 1 average overbought or oversold but a complementary average reveals no information to overbought / oversold.

Option expiries, NY Cut, Order Boards, a currency price bid or offered as was reported by Bank of America no longer serves as relevant in currency markets today due to the new 2 year price structure. Structure, it exists.

Far more to markets and prices requires attention. . Forward Points are located between yields and throws off slightly forward exchange rates to spot prices.

EUR/USD, high side target 1.2032 and lows on a break of 1.1951, watch 1.1943, 1.1928 and 1.1913. Above break point 1.2154 and watch the 5 year average now at 1.1945.

GBP/USD high side target 1.3623 to 1.3632 and lows at 1.3528, 1.3511 and big break at 1.3503 to target 1.3494.

GBP/JPY break point is located at 150.44 and upside target is near 148.72 and bottom near 147.37.

USD/JPY 5 year average now 110.03. USD/JPY traded to 110.02 and brought markets to the brink then dropped. Break point below now 108.82, upside target see 109.60’s and solid supports at 108.92, and 108.86.

USD/CAD break point now 1.2751, sell rallies. Since March 14, USD/CAD remained traded in small ranges.

Brian Twomey