18 Currency Pair Trade Rankings and EM

Trade Rankings: EUR/USD, EUR/JPY, NZD/JPY, NZD/USD, NZD/CHF, EUR/NZD, EUR/AUD, AUD/CHF, AUD/USD, AUD/JPY, USD/CAD, CAD/JPY.
Best trades this week is NZD/USD. Last week, NZD cross pairs and NZD/EM began the week overbought then NZD/USD broke above 0.7011 and NZD currencies traveled into richter scale overbought.


NZD/USD this week is in overbought agreement to not only NZD cross pairs but NZD/EM achieved a far higher degree of overbought. Lower NZD/USD as the bottom most currency is enough to drop EUR/USD, GBP/USD and AUD/USD.


Added to overbought NZD is massive oversold USD/EM and oversold permeates across all USD/EM. The problem with oversold USD/EM is EUR/EM is also deeply oversold and the same situation as last week. Either USD/EM or EUR/EM must win but not both.
USD/EM and EUR/EM oversold partly explains the paralysis to range compression to G28 currencies experienced over past weeks. Range compression remains upon us for the upcoming trade week.


Overall currency pairs begin the week in horrible positions and the same predicament as last week. Trade selection again is crucial for the next week.


The difference between closing prices from last to this week is about 100 pips and 200 ish pips for wide range currency pairs, GBP/NZD, GBP/AUD and EUR/NZD.


AUD moves to the rear of the rankings while NZD moves forward. USD/CAD is not terrible on its own and we are long however CAD/JPY and CAD/CHF fail to assist to easy and most profitable trades due to positions.


GBP


Favored trades this week: GBP/NZD, GBP/USD, GBP/JPY, GBP/CHF, GBP/CAD and GBP/AUD.


The only difference from last week is GBP/NZD earns first position otherwise no changes to the line up. Same old story for GBP.


USD/JPY begins the week oversold yet sits just above vital 109.58. Provided 109.58 holds,

USD/JPY targets 110.34 and 110.41 then short to target 109.89. Note USD/JPY is the same exact weekly trade as last week. Must be those yields again.


Watch CHF/JPY 119.91 break to target 119.48. CHF/JPY is the exact same pair as USD/JPY.


EUR/GBP long 0.8530 and 0.8538 to target 0.8573.


NZD/EM


Short Entries don’t anywhere, only targets as targets are 2 to 300 pips from entries.
NZD/CNY targets 4.5909 from 4.6219
NZD/CZK targets 15.2664 from 15.3002.


NZD/DKK targets 4.4298 from 4.4767.
NZD/IDR targets 10185.86 from 10215.51.


NZD/KRW targets 816.19 from 827.02
NZD/MYR targets 2.9442 from 2.9699
NZD/PLN targets 2.7073 from 2.7187


NZD/RON targets 2.9374 from 2.9789.
NZD/SGD targets 0.9503 from 0.9609.

Brian Twomey

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