FX next week EM, EUR, GBP, AUD, NZD, CAD

USD/CNY achieved targets at 6.9432 then 6.9298 from 6.9723 highs. USD/ZAR hit target at 18.0995 from 18.5191 highs. USD/INR target at 82.32 traded to 82.36 from 82.94 highs. USD/NOK target at 10.2655 traded to 10.2977 lows from 10.4477 highs. USD/ILS target at 3.5830 traded to lows at 3.6024 from 3.6941 highs. Profit 1000’s upon 1000’s pips.

GBP/USD Broke above 1.2024 and traded to middle 1.2100 and easily to 1.2142 as written. USD/JPY 135.37 target completed at 135.24 lows. CAD/JPY 100.33 to 100.86 then the 100.33 break lower to 98.00’s. EUR/USD Parity Curve 1.0711 to 1.0378. EUR/USD highs for the week traded 1.0690 and from vital 1.0568. Profit 100’s upon 100’s of pips.

Friends, we all know how the story goes for the past 15 years by use of $4 calculator then click. The same story will be seen for the next 15 years. The difference is I will research to find ways to improve if this concept exists.

Two aspects to all market prices: offered as percentages or decimals and second, never use a market price to forecast a market price because all then trade apples to oranges and the market price will eventually defeat all traders.

CAD/MXN failed to achieve target. Massively oversold CAD/MXN longs are good everyday until 13.5606 trades. This trade is the exact same as GBP/AUD over the past month. Take CAD/MXN long anywhere from 13.1013 to 13.3310. Each long trade contains 1000 pips on each day.

Next week

EUR/USD is held by 1.0557 and bottoms at 1.0400’s. High targets next week at 1.0726 is easily achievable.

DXY overbought begins at 105.47 and 105.55 while DXY bottom is held by 103.09 to target 100.00’s again.

USD/JPY requires a break at 135.33 to target 134.23 easily. Next week shorts are located at 137.00’s to target again low 136.00’s.

AUD/USD requires a break at 0.6808 to trade the range from 0.6808 to 0.7015. Deeply oversold AUD long drop strategy is the only way forward to the eventual break at 0.6808. AUD/USD’s problem at the lows and small ranges is EUR/AUD is far to high. A lower EUR/AUD will offer AUD/USD much wider trade ranges and more profit opportunities.

EUR/AUD overall is  on a short only strategy to the eventual break at 1.5507. EUR/AUD is clearly the better trade to GBP/AUD as AUD/EUR at 0.6300’s aligns more perfectly to AUD/USD. Plus, EUR/AUD is far more overbought than GBP/AUD.

NZD/USD is in the same position as AUD/USD due to EUR/NZD at the 1.7100’s and 1.7200 highs. A high EUR/NZD forces NZD/USD at the oversold lows to trade tiny ranges. The last problem is EUR/NZD and GBP/NZD lack the ranges it once had in past years so its much harder for EUR/NZD and GBP/NZD to correct lower in order for NZD/USD to trade higher and wider ranges.

GBP/USD averages vs positional changes

GBP/USD begins next week in the same exact position as last week. Averages changed numbers but positions remain the exact same. Market prices perform this function often week to week. The trade is the position to the average or a wholesale change to positions to target a different average. Ranges forces movements to positions Vs averages.

CAD/JPY and CAD/CHF are in the same position as last week Watch CAD/JPY 100.47 for longs and shorts.

GBP/USD’s trade next week is the exact same as this week as long low 1.1900’s to target the eventual break at 1.2016 then middle 1.2100’s.

Overbought GBP/JPY is held by 162.54 to target much lower. EUR/JPY must break 142.74.

GBP/CAD lower must break 1.6186 and 1.4220 for EUR/CAD on a short only strategy. Short only strategy is characterized for GBP/CAD, EUR/CAD, EUR/AUD, GBP/AUD, EUR/NZD and GBP/NZD due to all are DXY or better stated, USD currencies. All trade mostly as percentages to DXY and USD.

On the EM side, USD/HUF USD/NOK and USD/PLN align as best trades for next week. 

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