Weekly Trades: GBP/USD, GBP/JPY, USD/CAD and USD/JPY

GBP/USD this week vital ranges are located from 1.2950 to 1.3451 and 1.3566. Note the 600 pips and a perfect currency pair range. GBP pairs are actually the only currency pairs with viable trade ability to earn pips.

GBP/USD Trade

Short 1.3329 and 1.3359 if seen to target 1.3127. Must cross 1.3302, 1.3244 and 1.3186.

GBP/JPY

GBP/JPY ranges are located from 142.05 to 147.54 and a 550 pip range.

GBP/JPY Trade

Short 145.75 if seen to target 142.88. Must cross 145.03, 144.31, 143.59 and 143.23.

USD/CAD

Long 1.3166 to target 1.3223. Must cross 1.3178, 1.3196, and 1.3214.
Long above 1.3232 to target 1.3277. Must cross 1.3250 and 1.3268.
Short 1.3277 to target 1.3241. Not again 3 trades.

USD/JPY

USD/JPY trades above its vital break point at 108.57. USD/JPY above 108.57 is a mis position in relation at EUR/USD, GBP/USD, AUD/USD and NZD/USD as all trade above vital high / low points at 1.1088, 12894, AUD at 0.6843 and NZD/USD at 0.6487.

Either USD/JPY breaks below 108.57 or EUR, GBP, AUD and NZD must trade lower as all currency pairs cannot trade at current levels.

USD/JPY massive points to trade higher are located at 109.64 and 110.01. For JPY cross pairs EUR/JPY approaches its vital line at 123.65, NZD/JPY 73.22, and AUD/JPY 78.00’s.

USD/JPY  Trade

Short 109.21 and 109.54 to target 108.72. Must cros 108.89. Short 108.57 to target 107.91. Must cross 108.24. Long 107.91 to target 108.40. Must cross 108.24.

USD/JPY is not worth the effort and its traded only daily but USD/JPY fails to meet the weekly targets and trade ranges at minimum 150 pips.

Brian Twomey

Gold

The negatives to the Gold price is severely overbought and trades above its 5 year average at 1262.19. Gold is correct to trade above its 5 year average alongside DXY above its 5 year average at 95.01. Gold and DXY however are both not correct to prices as the S&P’s also trades above its 5 year average at 2405.44.

Gold and DXY are historic non risk assets and both can’t trade alongside risk asset S&P’s. Either Gold and DXY must break its 5 year averages or remain in current position while the S&P breaks its 5 year average.

If markets are viewed correctly from a safe bond Vs risk yield perspective then DXY and Gold represents the safety of a bond price while the S&P as risk asset represents the yield side to the equation. Both Gold and DXY must factor negative correlations to the S&P’s. Gold and DXY factor negatively to most currencies except those few cross currency pairs as true USD dollar pairs.

One day, the Gold V DXY V S&P relationship will bust wide open then each financial asset will assume its correct trade position.
Gold from current 1475.76 must trade lower to minimum 1350.00’s. Gold achieves 1350.00 targets by breaks lower at 1471.94, 1418.39 then 1387.87, 1376.39 and 1359.45.

Severely overbought Gold translates as a short only trade strategy.

The Gold price lacks ability for big moves and explains its daily slow price grinds.

To understand overbought, Gold price extremes are located from 1553.97 to 1617.76.

From a 24 hour perspective, Gold factored to interest rates reveals the current top at least for today at exactly 1600.00.

For the 24 hour Gold trade, long at 1468.38 to target 1484.32 on a break of 1478.43. Any price above 1484.32 is a bonus trade for shorts. Any price below 1468.38 is a bonus to longs.

 

Brian Twomey

Exchange Rate Research

GBP/JPY 145.67 OR 1.4567

EUR/JPY 121.56 OR 1.2156

CHF/JPY 111.48 OR 1.1148

USD/JPY 109.31 OR 1.0931

CAD/JPY 83.00 OR 0.8300

AUD/JPY 75.14 OR 0.7514

NZD/JPY 72.05 Or 0.7205

GBP/NZD 2.0208 or 0.4948

GBP/AUD 1.9379 Or 0.5160

GBP/CAD 1.7545 Or 0.5699

EUR/NZD 1.6858 Or 0.5931

EUR/AUD 1.6164 or 0.6186

EUR/CAD 1.4645 OR 0.6828

GBP/USD 1.3328 Or 0.7503

USD/CAD 1.3166 Or 0.7595

GBP/CHF 1.3106 Or 0.7630

EUR/USD 1.1118 Or 0.8994

EUR/CHF 1.0945 OR 0.9136

AUD/NZD 1.0417 OR 0.9599

USD/CHF 0.9835 OR 1.0167

AUD/CAD 0.9055 OR 1.1043

NZD/CAD 0.8691 OR 1.1506

EUR/GBP 0.8346 OR 1.1081

CAD/CHF 0.7475 OR 1.3377

AUD/USD 0.6873 OR 1.4549

AUD/CHF 0.6767 OR 1.4777

NZD/USD 0.6590 Or 1.5174

NZD/CHF 0.6496 Or 1.5394

 

Full Currency Market Statistics, Must Rearrange JPY currencies to include most vital GBP/JPY. Offers perfect assessments for all 28 currency pairs.

Distortions to include JPY pairs as is including GBP/JPY. However Med +and minus  offers dev = 2 1/2

 

Brian Twomey