GBP/CAD as written December 13: GBP/CAD trades from 1.6392 to 1.6767 or 1.6767 and 1.6892 to 1.7300’s.Today and 1 month later, GBP/CAD trades from 1.6468 to 1.6796 or 1.6796 to 1.6912 and 1.7095.

The larger range is located from 1.6146, 1.6468, 1.6796, 1.6912, 1.7095.

Overall, GBP/CAD trades in a range from 1.6448 to 1.6796. At 1.6448, GBP/CAD’s price is oversold and low while GBP/CAD becomes to high at 1.6796. To high at 1.6796 informs GBP/CAD will struggle to not only break but sustain its price above 1.6796.

Any price below 1.6511 then longs apply to target the range above 1.6581 to 1.6796.

EUR/AUD as written December 14th, EUR/AUD averages are located at 1.5543 and 1.5576 above and below at 1.5382 and 1.5364.

Today’s averages are located at 1.5381, 1.5407, 1.5469, 1.5598, 1.5609. Best trade strategy is short high 1.5700’s and low 1.5800’s to target 1.5686.

As EUR/AUD fails to overbought and oversold concepts, EUR/AUD’s price at 1.5400’s and 1.5300’s is to low and and will fail to maintain lower levels as EUR/AUD must travel higher.

Overall, EUR/AUD must maintain the range from 1.5686 to 1.5400’s and 1.5300’s on a short only strategy inside a 200 pip range. The far better trade is GBP/AUD as GBP/AUD dropped from reported 1.7999 to 1.7700’s and 200 pips.

Not much happening to EUR/AUD while GBP/CAD is acceptable but nothing special.

Brian Twomey