Trade Rankings: EUR/USD, NZD/USD, AUD/USD, USD/CAD, EUR/AUD, EUR/NZD, NZD/JPY, CAD/JPY, AUD/JPY, EUR/JPY, NZD/CHF, AUD/CHF
Due to the extreme wide divide between EUR/USD and USD and severe EUR, AUD, NZD, GBP oversold and USD overbought, all are first to overall trade rankings as easiest trades and most profits.
Currency market prices remain in crucial positions not only from proximity to 5, 10 and 15 year averages but ranges are severely compressed. AUD/USD for the 3rd week in a row qualifies as best followed by EUR/USD and EUR/AUD.
Problem currency prices this week includes GBP/USD, GBP/CHF, USD/CAD, EUR/NZD, USD/CHF and CHF/JPY. Problem currencies contain range problems.
Despite range problems, USD/CAD is deeply overbought and the 5 year average is close at 1.3076 and USD/CAD overbought matches to its oversold opposites, EUR/USD and GBP/USD.
USD/JPY is oversold and matches to oversold JPY cross pairs. NZD/JPY qualifies first among JPY cross pairs due to its oversold read followed by CAD/JPY and AUD/JPY and all better trades than EUR/JPY, despite oversold.
NZD/CHF qualifies against AUD/CHF due to oversold however AUD/CHF may easily qualify as the better trade for most movements and more profits. CAD/CHF is not traded weekly however CAD/CHF is massively oversold along with counterparts, AUD/CHF and NZD/CHF.
Trade Rankings: GBP/USD, GBP/CHF, GBP/CAD, GBP/AUD, GBP/JPY, GBP/NZD.
Despite range problems, GBP/USD and GBP/CHF qualify as 1st nd 2nd due to oversold, followed by overbought GBP/CAD and GBP/AUD. GBP/CAD beats GBP/AUD due to an easier trade and profits although GBP/AUD contains wide ranges this week along with its counterpart EUR/AUD. Both are great trades.
Nothing special to GBP/NZD as EUR/NZD should provide a better trade and profits.
G28 trade Strategy.
Due to extreme oversold and overbought, entries this week are meaningless. Only targets count. Any currency that traded higher will trade lower while any currency that traded lower will trade higher. Throw a dart at any currency and wherever it lands, take it long or short Sunday night.
Main driver to currency markets are USD and USD/EM as practically all USD/EM currencies are light years overbought. EUR/EM is mixed to overbought and oversold however many EUR/EM currencies are on the verge of big breaks to take EUR/EM higher.
USD/CHF is the usual exception as its price is overbought, contains range problems and isn’t worth anybody’s time or effort. far better trades exist. Watch EUR/GBP 0.8565.
Nothing special to AUD/CAD except slight oversold but AUD/CAD is not a mover currency and was never intended to move and therefore is never worth anybody’s time and effort. AUD/CAD’s purpose is to contain AUD/USD and AUD cross pairs. If AUD/CAD was a more volatile currency like GBP/CAD then AUD /USD would trade more like the volatility of GBP/USD and EUR/USD. Same principle to NZD/CAD and NZD/USD.
USD/BRL overbought, targets 5.3350
USD/CNY overbought, targets 6.4849
USD/DKK, Overbought, targets 6.3332
USD/HRK Overbought, targets 6.3835
USD/HUF Watch 298.82
USD/ILS Watch 1,2455
USD/ISK Overbought, targets 125.98
USD/KRW overbought, targets 1152.69
USD/MXN overbought, targets 20.06
USD/PLN overbought, targets 3.8936
USD/RON overbought, targets 4.1821
USD/RUB overbought targets 73.83
USD/SGD Overbought, targets 1.3548
USD/TRY Oversold, targets 8.6096
USD/ZAR Overbought, targets 14.8733
Best trades, short USD/ZAR and Long EUR/ZAR, short USD/PLN and long EUR/PLN
EUR/HUF oversold, targets 351.80
EUR/INR oversold, targets 87.5460
EUR/KRW overbought, targets 1363.04
EUR/MXN Watch 23.75
EUR/PLN overbought, targets 4.9255
EUR/ZAR overbought, targets 17.6125 from 17.9038.