EUR/USD and G10: Levels, Ranges, Targets

USD/JPY 4 days later from Sunday’s written post achieved target at 109.46 from low 111.00’s. Break points above at 109.58, 110.12 and 110.33 dictate further upside while 108.57 remains the further downside target.

EUR/USD achieved 1.1829 perfectly then dropped. EUR/USD will again rise to new target at 1.1824 and further upside to 1.1883.

Overall, EUR/USD and EUR cross pairs are fast approahcing bottoms and vital supports. This means EUR/USD fulfilled its price mission from 1.2300’s in March / April.

All eyes on the FED to offer Asymmetric and Neutral interest rates to further insult the intelligence of any market trader with understanding. Does anyone believe the FED ran 20 and 25 years Fed Funds data to know where the Neutral Rate is located. Neutral rates coming from a Fed to show 5 year median averages as Dot Plots. Meanwhile did 1 market reporter /analyst run 25 years of data and how many accepted the Fed hogwash as reality. The answer is none.

Fed or No Fed as just 1 example among all currency pairs, USD/JPY was going to Sunday’s reported target at 109.46. EUR/USD bounced around 63 pips on the FED and moved not one iota outside the overall 50 to 150 ranges contained inside 28 currency pairs. GBP/USD didn’t move. AUD/USD moved 30 pips.

Hourly charts are shown now 10 pip intervals as compared to days of old when 50 and 100 intervals were most common to all currency pairs. If shown a 1 inch candle and 20 and 40 pips traded in 1 swoop then the currency price didn’t move and overall the FED didn’t say anything nor moved any prices. Charts, indicators and all the rest are designed to slow and fool traders rather than assist. Trust the knowledgeable quantifications here as was trusted over many years.

How many central bank announcements, economic data and all the rest of the daily market baloney was involved to hit 400 and 500 pip targets 1 and 2 months away. The answer is zero as the currency price reaches its destination regardless to outside events. Shame on as unsuspected are subjected to such blah these days but more shameful to those to accept this stuff. Que Sera Sera

EUR and EUR cross pairs not only completed destinations but all are oversold to include EUR/JPY. EUR/CAD remains an outlier and sits aimlessly. EUR/NZD still contains the biggest move on the way. EUR/JPY is most oversold yet 129.00’s broke so EUR/JPY will see a review for next week.

EUR/USD break points are located at 1.1702 and 1.1982.

AUD/USD achieved 0.7604 this week and break point is now rising 0.7629

EUR/NZD 1.6997 must break higher to target 1.7022 and 1.7094. Note EUR/NZD traded below 1.7094 all week. Oversold for today begins at 1.6914.

NZD/USD break point is located at 0.7050.

USD/CAD break point 1.2772 to target below 1.2500’s.

CAD/JPY trades just below its break point at 85.80.

GBP/USD watch target today 1.3423.

GBP/JPY break point now 149.44 and at 146.00’s is past entry to the 149 target trade.


Brian Twomey