Technical Analysis

FX Weekly: EUR, DXY, GBP And JPY Cross Pairs

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    As an aside to weekly commentary, Investing.com contains extraordinary and reliable data to view historical prices and averages for any traded instrument on the planet. The historical view now allows going back to the early 1970s and beyond. Most vital is upgrades to ease of use to apply the data. I relied on the data for nearly the past ten years and can attest to data reliability.

    As reported Friday, FX begins and will end the week the same as last week. and starts the week deeply oversold. NZD and AUD cross pairs trade in compliance with oversold NZD/USD and AUD/USD. Weekly NZD/USD targets 0.5744 on a break of 0.5699.

    AUD/USD and NZD/USD long assistance is derived from deeply overbought , and . The best profit trades for the week for 200 pips each are EUR/NZD, GBP/NZD, and EUR/AUD. will follow, but caution to 1.7288 as further shorts depend on a lower break. All contain a short-only strategy for the week.

    and begins the week in neutrality and the same neutral story as last week. Neutral references the price location. Averages determine price location. Averages depend on averages moving higher or lower in relation to the traded price.

    An expansion or contraction to averages determines the range of prices. An expansion to averages means the price remains in the same location under wider ranges. At the same time, a contraction refers to trades to break ranges yet trade in a higher or lower location.

    EUR/USD began last week at the 147 pip range. The actual range traded 274 pips from 0.9999 to 0.9725 or 2 X 147. EUR/USD long and short profits last week 319 pips. Overall profit achieved higher than the actual range , which means every traded pip was profit but also, EUR/USD required a range break to achieve targets.

    EUR/USD 2 weeks ago and 319 pip range to 148 pip profit as ranges expanded to miss extra profit pips above and slight miss to the entry below. Overall ranges decide questions to neutral, oversold, and overbought.

    DXY Vs. EUR/USD

    Monday targets 113.12 and 113.53 for the week. Targets higher for future weeks are derived from counting 70 pips from 113.53 as 114.23, 114.93, and 115.63.

    EUR/USD as DXY perfect opposite targets weekly 0.9657. Lower targets for future weeks are derived by counting every 69 pips from 0.9657 as 0.9588, 0.9520, and 0.9451.

    DXY, at the 112.75 weekly open, trades 1600 pips above the 50-year average at 96.00, while EUR/USD trades 1600 pips below the five-year average at 1.1400’s.

    DXY economic news will eventually trade against rate rises, and DXY will drop. As the perfect opposite EUR/USD and Europe economic news will strengthen, EUR/USD will rise. Currently, both Europe and the United States run trade deficits at -42 billion and -62 billion.

    EUR/USD Weekly Trade

    EUR/USD range this week trades 142 pips from 0.9758 to 0.9616. Long 0.9687 and 0.9678 to target 0.9829. Short 0.9829 to target 0.9758. The long trade proposes 151 pips from 0.9678.

    Short 0.9829 to target 0.9758 or 71 downside pips for 222 pips on a possible 284 pip range.

    EUR Cross Pairs

    holds support to EUR/USD and EUR/CHF at 0.9602 while 1.3350 decides .

    USD/JPY and JPY Cross Pairs

    trades overbought this week and ranges from 145 to 147.00’s. JPY Cross Pairs trade oversold, and leads the way higher. breaks 161.64, then JPY cross pairs higher. The least favored is .

    Trade Rankings

    EUR/USD, AUD/USD, EUR/AUD, NZD/USD, NZD/JPY, , EUR/NZD, , , , USD/JPY, , , CAD/JPY, EUR/CAD.

    Best trades this week: EUR/USD, AUD/USD, EUR/AUD, NZD/USD, NZD/JPY, USD/CAD, EUR/NZD, AUD/CHF, NZD/CHF, CAD/CHF.

    GBP Trade Rankings

    GBP/NZD, GBP/USD, GBP/AUD, GBP/JPY, , .

    USD/CAD and trade severely overbought while USD/JPY trades within the confines of DXY.



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