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

AUD/CAD is added this week to NZD/CAD and a continuation to the NZD/USD and EUR/USD trades from last week.
AUD/CAD from the 0.9328 close sits on solid supports at 0.9263, 0.9231 then 0.9138. Massive resistance begins at 0.9474 , 0.9533, 0.9549 and 0.9594. Overall, 0.9263 to 0.9474 and 0.9533. A break of 0.9533 is required to target 0.9600’s and 0.9700’s.

But not this week as lower prices are expected.

NZD/CAD is deeply overbought while AUD/CAD sits at fairly neutral readings. AUD/CAD supports reside at 0.9263 and 0.9231 while NZD/CAD requires a break at 0.8730 and 0.8706 to target lower prices as expected for the week.

For EUR/USD and NZD/USD this week, we maintain continuation to overall short trade however also offered are multiple trades for each currency pair.

Trades

EUR/USD

Short 1.1289 and 1.1305 to target 1.1144.

Short below 1.1112 to target 1.0983.

Cautious long at 1.1144 to target 1.1241.

Short 1.1241 to target 1.1176.

NZD/USD

Short 0.6481 and 0.6496 to target 0.6334.

Short below 0.6318 to target 0.6253.

Long 0.6253 to target 0.6401.

Cautious long 0.6334 to target 0.6416

Short 0.6416 to target 0.6351.

NZD/CAD

Short 0.8786 and 0.8797 to target 0.8625.

Short 0.8602 to target 0.8533.

Long 0.8533 to target 0.8579.

Cautious long 0.8625 to target 0.8694.

Short 0.8694 to target 0.8625.

AUD/CAD

Short 0.9358 and 0.9386 to target 0.9287.

Short 0.9263 to target 0.9159.

 

Brian Twomey

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