Currency Markets at Crucial Inflection Points

As written yesterday to EUR/USD 1.1847 was protected by day trade highs at 1.1850 and 1.1858. EUR/USD traded to 1.1858, through 1.1847 to 1.1837.

USD/JPY as written yesterday short 110.43 targets 109.94. USD/JPY traded to 109.87 lows for a quick day trade at +55 pips.

Sunday. JPY cross pairs higher and USD/JPY oversold. Correct.

Overall, currency market prices are located at crucial points to break and travel higher or massive reversal. Time for caution as seen and reported to currency pair trade selection on Sunday.

EUR/USD break for higher is located at 1.1855 and 8 pips higher than yesterday’s 1.1847. A rising line and a rising price usually informs the price fails to break and trades lower. EUR/USD had ample opportunity to break higher at lower levels and failed. Day trade highs could trade easily to 1.1893 and 1.1901.

GBP/USD big break at 1.3817 is also a rising line. A break targets day trade highs at 1.3842 and 1.3851. Day trade lows could easily take GBP to 1.3728 and 1.3711 on a break at 1.3750.

AUD/USD big break at 0.7414 is protected for today by day trade highs at 0.7412 and 0.7517. Short highs is the strategy to target day trade lows at 0.7341 and 0.7350.

Day Trades

Used in conjunction to match weekly trade entries and targets, day trade profits and vital break determinations. Day trades are extra pips earned while waiting for weekly targets to complete.

USD/JPY no changes since yesterday. Must be those yields again. Shorts are located at 110.36 and 110.43 to target 108.95 for weeklies and 109.54 and 109.41 day trade lows. Watch big break 109.58.

NZD/USD is the problem currency for the week and ranked 6th in the overall 18 pair rankings. NZD/USD is mid range and could easily fly higher or lower however higher means NZD cross pair travel to further overbought. Highs today could easily trade to 0.7109 and 0.7104 however caution to NZD is warranted as NZD/USD is rising along with a rising price.

GBP/JPY watch 151.40 as current price is close.
AUD/JPY watch 81.22, CAD/JPY 87.34.

CHF/JPY target at 115.66 stands however mcuh time as this target takes. CHF/JPY is the exact same pair as USD/JPY and married at the hip much the same as GBP/USD and GBP/JPY.
CHF/JPY 115.66 target means short strategies until targets achieve as 500 pips of shorts remain.

USD/CAD day trade highs are located at 1.2681 and 1.2678 but USD/CAD is pushing the limitss at 1.2678. Good target 1.2615 and 1.2594.

Oversold EUR/AUD and EUR/GBP watch 0.8580.

Time for deep caution as vital points are upon us. Failure to break today then tomorrow prices head for the close.

Brian Twomey