Weekly Trades: EUR/USD, NZD/USD, NZD/CAD

Last week’s EUR/USD from 1.1100’s was deeply overbought then traveled to extraordinary extremes at 1.1300’s. Last week’s
NZD/USD was overbought at 0.6200’s then traveled to extraordinary extremes at 0.6500’s. NZD/CAD lacked a choice except to travel higher. NZD/CAD to NZD/USD represents a top and forecast currency to NZD/USD.

AUD/CAD holds the same principle as a top and forecast currency to AUD/USD.

GBP/CAD is the middle currency pair to GBP/USD. Above GBP/CAD resides wide rangers GBP/NZD and GBP/AUD. Below GBP/CAD resides GBP/USD, GBP/CHF and GBP/JPY.

EUR/CAD holds its principles as middle currency to EUR/USD, above lies wide rangers EUR/NZD and EUR/AUD. Below lies EUR/USD, EUR/CHF and EUR/JPY.

2 separate distributions reside inside the EUR and GBP universe, wide rangers and low ranges or better stated GBP/USD, GBP/CHF and GBP/JPY vs USD as wide rangers, GBP/NZD and GBP/AUD. When is GBP not GBP. At the Juncture of GBP/CAD.

GBP/USD rose significantly last week, GBP/NZD and GBP/AUD dropped, what dropped USD.

EUR/USD lives within the same content as low rangers EUR/USD, EUR/CHF and EUR/JPY vs USD as EUR/AUD and EUR/NZD. When is EUR not EUR. At the juncture of EUR/CAD.

EUR/USD rose significantly, EUR/NZD and EUR/AUD dropped. What dropped, USD.

EUR/AUD dropped to long standing target at 1.6000;s as forecast and mentioned many times in past posts.

NZD remains a solid block as NZD just as AUD remains 1 solid block as AUD.

Last week’s 200 pips higher to AUD/USD, EUR/USD and NZD/USD informed further to deep instability as rarely seen is overbought travels 200 pips higher to more extreme overbought. A cross pair is possible but not EUR/USD, NZD/USD and AUD/USD vs Non USD.

When do we know an unstable price exists is when overbought travels to more overbought or oversold to more oversold. Of all market periods and particular weeks, the worst by far is overbought to more overbought and oversold to more oversold. A normal price exists then those rare times to unstable prices. A normal trade exist then a gamble trade.

Due to leader as USD Vs Non, cross pairs had no choice except to travel to respective extremes. All currency pairs including EM are now in deep reversal mode.

Trades

One way trades this week for all currency pairs as the 200 pips from extremes must correct. Under 200 pip extremes, entries don’t matter.

NZD/USD as bottom currency is overbought and NZD top currency NZD/CAD is also overbought. EUR/USD must be repaired from last week.

EUR/USD

Short anywhere or 1.1304 and 1.1326 to target 1.1063.

Short below 1.1041 to target 1.0952.

NZD/USD

Short anywhere or 0.6543 and 0.6518 to target 0.6293.
Short below 0.6243 to target 0.6193.

NZD/CAD

Short anywhere or 0.8747 and 0.8759 to target 0.8568, caution 0.8594.
Short below 0.8543 to target 0.8492.

 

Brian Twomey

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