EUR/USD higher must break 1.0453. From Sunday’s open, EUR/USD ranges were located at 1.0302 to 1.0148. Against 1 day’s trade, range today becomes 1.0305 to 1.0156. Lower averages are rising.
EUR/USD at 1.2000’s trades below 1.0453. As EUR/USD perfect opposite, CAD/ZAR trades above vital 12.72. CAD/ZAR as EUR/USD perfect opposite is the same interpretation as saying CAD/ZAR is USD or CAD/ZAR is a USD currency.
CADZAR as a commodity currency is also a Commoddity Neutral Risk Indicator.
CAD’s 1 year yield trades 3.25 and ZAR at 6.78. Nothing exist as it appears in financial markets however FX was the first financial instrument derived long before Stock markets, bonds, yields, interest rates.
Interest rates began with Commercial Paper in the 1800’s and built the nations that exist today. Fed Funds came along about 40 years later with the creation of T Bills and Yields to perpetually fund governments.
The reciprocal of CAD = 0.1474 and ZAR = 0.30. The receiprocal of CAD/ZAR = 0.076. How are markets doing.
EUR/USD 0.97.
0.30
Copper 0.29
0.14.
Take reciprocals to see commodities.
WYI = 0.010
Brent 0.0098
Soybeans = 0.0007
Corn 0.0016.
Gold 0.0005
Soybeans 0.0007.
If markets prices were presented as reciprocals, a far different picture exists. In the present form, markets were set up for professionals and this is what led to the majority today as speculators.
Take Brent at 0.0098 = 102.04. At 0.0099 =101.01 and 0.0097 = 103.09. The variation is due to 4 decimal places yet 6 and 7 decimal places should b the factor for the next price and ranges.
Brian Twomey
BRIAN TWOMEY ON TRADING 