GBP/USD and Long Term Trades: USD/CHF, AUD/CHF, NZD/CHF

GBP/USD achieved 1.3691 for the Fed and 10 pips off the morning day trade highs at 1.3701. On certain days, day trades are good for 24 hours and other times day trades requires an additional factor to ensure accurate trades.


Here’s GBP/USD for last 24 hours: 1.3602, 1.3665 and 1.3701.


Yesterday morning GBP/USD was deeply oversold and as written, long was the only trade. Today’s GBP/USD is in the same position as yesterday, deeply oversold and long is the only trade. If BOE offers a slight drop then many free bonus points will add to the trade.


GBP/USD at 10:00 will trade at 1.3643 and 1.3670. Could easily see a dead GBP from BOE.
Friday’s GBP/USD close price is expected at 1.3711 ish and we trade GBP/USD weekly trade long. Any close at 1.3738 then GBP/USD is relegated to the back bench as they say in the UK House of Commons to trade possible shorts.

GBP/JPY close around 156.45 ish then so question to GBP/USD shorts.


GBP/CHF contains range problems and isn’t worth much to trade efforts while GBP/CAD sits at its usual 2 week deeply oversold position. Deeply oversold GBP/NZD looks like long next week and a close price around 1.9197. GBP/AUD long next week with a close around 1.8346. Lower offers a great long trade to match this week’s trade.


BOE preview 50 pips. Fed preview 30 pips. RBA preview 40 pips. A trader’s job is trade markets correctly and avoid hype. Remember this from the MCI post: central banks control interest rates so therefore control markets and prices. Interest rate markets were once open and free but no longer since 2016. If ever central banks release controls, markets will trade normal again but until then, prices are under central bank dominion.


GBP/USD


5 vitals 1.3589, 1.3613, 1.3627, 1.3692 and 1.3737.


Long Term Trades USD/CHF, AUD/CHF, NZD/CHF


USD/CHF targets 0.9334 and practically the same target upon last review many months ago. USD/CHF achieved target from last review. Current target is achieved by breaks higher at 0.9148, 0.9171 and 0.9282. Not much to USD/CHF except long drops.


AUD/CHF


AUD/CHF is the bottom pair in the AUD universe and AUD/CAD at the top. AUD/CHF is currently oversold and long term targets are located at 0.6959 or 200 ish pips. AUD/CHF achieves targets by breaks higher at 0.6723, 0.6765, 0.6811, 0.6834 and 0.6899. AUD/CHF will trade and track alongside USD/CHF.


NZD/CHF


Not much to NZD/CHF for long term trades. The vital points are located at 0.6346, 0.6427, 0.6467 and 00.6514 and .6569. To target 0.6700’s, NZD/USD must break 0.6602. AUD/CHF and CAD/CHF are better trades and GBP/CHF when GBP/CHF trades correctly.

Brian Twomey