As written yesterday, EUR/USD higher required a break at 1.1845. EUR/USD traded to 1.1844 then to current lows at 1.1793. Today, higher must break above 1.1847. Day trade highs today are located at 1.1850 and 1.1858. EUR/USD 1.1847 is protected to short tops for today. Lows today could easily achieve 1.1751 and 1.1838.
GBP/USD higher must break above 1.3813. GBP/USD traded to `1.3807 and dropped 75 pips to 1.3732 lows.
USD/CAD 1.2554 lifted from 1.2578 on Canada’s GDP release to 1.2651 highs or 73 pips. No surprises here ever going on as we run dats for perspective.
USD/JPY 109.58 rose from 109.60 to 110.36 highs or 76 pips.
As written currency pair trade selection was crucial.
EUR/USD, USD/CAD, AUD/USD, EUR/AUD, EUR/NZD.
EUR/USD 62 pips, USD/CAD 72, AUD/USD 57 pips, EUR/AUD 124 and EUR/NZD 158 pips.
Best trades were clear to easy, entries, targets and profits.
JPY Cross Pair Rankings
AUD/JPY, CAD/JPY, NZD/JPY, EUR/JPY.
EUR/JPY last ranking scored 83 pips, AUD/JPY 117, CAD/JPY 88 pips, NZD/JPY 128.
GBP/JPY 3rd ranking 96 pips Vs GBP/USD 1st rank at 74 pips, GBP/CHF 2nd at 119 pips while last for GBP/CAD and GBP/NZD 132 and 215 pips.
GBP/CAD trade for the week wasn’t clear but combined USD/CAD and CAD/JPY as better trades together traded 160 pips. We’ll take 160 easy pips vs much work and gamble to 132 pips.
As written Sunday, USD/JPY targets 110.34 and 110.42 then short. USD/JPY traded 110.43. Now short to target 109.94 on a break at 110.28. Day trade lows today are located at 109.64 and vital break for lower is located at 109.61.
USD/CAD is protected to at 1.2550 as day trade lows are located at 1.2545 and 1.2561.
NZD/USD is well protected at 0.7022 and massive overbought NZD/JPY at 76.97.
NZD currencies are in a giant flux and trades aren’t clear so why to not bother as better trades exist. NZD/CAD, NZD/CHF and NZD/JPY trade massive overbought while NZD/USD sits comfortably at 0.7057.