18 Currency Pair Trade Rankings and EM

Rankings: EUR/USD, USD/CAD, AUD/USD, EUR/NZD, EUR/AUD, NZD/USD, NZD/JPY, AUD/JPY, CAD/JPY, EUR/JPY, AUD/CHF, NZD/CHF


VS Friday


EUR/USD, NZD/USD, AUD/USD, USD/CAD, EUR/AUD, AUD/JPY, CAD/JPY, NZD/JPY, EUR/JPY, AUD/CHF, NZD/CHF, EUR/NZD.


Oversold EUR/NZD moves to 4th position from Friday. NZD/USD moves to 6th place from 2nd Friday. NZD/USD closed 0.7011 and perfectly on the average. NZD/EM is clear to massive overbought. Long NZD/USD at lower levels is the only trade strategy.


Best Trades


EUR/USD, USD/CAD, AUD/USD, EUR/AUD, EUR/NZD.


Vs Friday


AUD/USD, NZD/USD, USD/CAD and EUR/AUD


EUR/NZD and EUR/USD included to this week’s trades as best.


GBP


Rankings: GBP/USD, GBP/CHF, GBP/NZD, GBP/JPY, GBP/CAD, GBP/AUD
GBP/AUD drops from trade consideration to favor EUR/AUD shorts. Oversold GBP/CHF continues its top rankings and wide range movements into week 4 while GBP/CAD contains range problems and not expected to perform adequately.


Overall currency market prices begin the week not only with compressed ranges but horrible positions. This includes USD/EM, EUR/EM, AUD/EM and CAD/EM. Currency pair trade selection this week is highly selective to trade picks.


USD Vs non USD currently drives market prices. into week 2.


Oversold USD/JPY forces JPY cross pairs into the second wave rankings to short tops as usual. USD/JPY traded 83 pips last week and 87 pips for DXY. Both traded 50 pips Friday. Friday was the best day. Without Powell, total range pips would’ve traded much smaller.


Problem to USD is DXY and it effects USD/JPY and USD/CHF. DXY 87 pips and USD/JPY 83 forced SPX500 to trade 61 points for the week, 12 points for the 10 year yield and 5 points Friday. USD/CHF remains clueless and to stand clear.


DXY must trade wider ranges for markets and USD in particular to get moving.
USD/JPY higher targets 110.34 and 110.42 then short.


CAD/CHF again begins the week massively oversold and targets 0.7267 from 0.7217. Long only strategy for the week. GBP/CHF is best trade and will outperform CAD/CHF easily. Consideration to add CAD/CHF to weekly trades or possibly drop NZD/CHF or AUD/CHF. CAD/CHF adds a third insight to the USD/CAD and CAD/JPY relationship.


Watch EUR/GBP 0.8574 to target0.8619. Overbought CHF/JPY targets 120.01 and break 119.87 targets 119.34. CHF/JPY also contains severe range problems to match all JPY cross pairs.


Ongoing trade strategy remains short USD and long non USD currency pairs.


USD/EM Vs EUR/EM


USD/EM lacks consistency as certain pairs begin the week at significant points and other pairs are stuck in wide ranges and no clear sign to vital breaks to lead in any one direction. Massive oversold USD/BRL, USD/HUF and USD/INR are best longs however matched to EUR/EM as EUR/BRL, EUR/HUF and EUR/INR, all are also massively oversold.


EUR/EM is consistent to oversold but not to any degree to trade excitement. USD/EM V EUR/EM are in a fight for dominance and only EUR or USD can win. EUR/EM and USD/EM reflects the vital levels and highly selective currency pair trade selection to G28 currencies.


NZD/EM


In agreement is overbought NZD/EM,
NZD/DKK targets 4.4081 from 4.4192


NZD/KRW targets 810.11 from 814.96.
NZD/PLN targets 2.7094 from 2.7201
NZD/RON targets 2.9178 from 2.9330.

Brian Twomey

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