Currency Market: Close price comparisons and FX weekly
|From weekly close comparisons, 9/18 to 9/25, GBP/CHF was the big mover at 168 pips followed by CAD/JPY at 143 pips, USD/CAD 126 pips, EUR/JPY 90 pips, NZD/CHF 80 pips, GBP/AUD 67, GBP/USD 63 , AUD/JPY 47, GBP/CAD 44 and EUR/NZD 43 pips.
Losers to closing prices was EUR/AUD closed at 1.6131 in each of 2 weeks for no change followed by EUR/USD 6 pips, AUD/USD 6 pips, CAD/CHF 3 pips, GBP/JPY 38 pips, GBP/NZD 20, NZD/JPY and NZD/USD at 27 pips.
From weekly close comparisons 9/4 to 9/11, GBP/AUD was the big winner at 212 pips followed by GBP/CAD 192, USD/CAD 163, EUR/AUD 120, AUD/JPY 104, AUD/USD 101, CAD/JPY 97, GBP/NZD 85, EUR/USD 70, AUD/CHF 68.
Losers to weekly close comparisons 9/4 to 9/11: EUR/NZD 4 pips, GBP/JPY 10 pips, NZD/CHF 14, GBP/USD 22 pips, GBP/CHF 25, NZD/USD 30, NZD/JPY 31, EUR/JPY 51 pips.
From monthly close comparisons, USD/CAD and CAD/JPY were clear to big movers followed by GBP/AUD, AUD/CHF and AUD/JPY.
Losers to monthly close comparisons GBP/JPY, NZD/USD, NZD/JPY, EUR/NZD.
DXY
From 9/4 to 9/11 close difference 55 pips and 24 pips 9/18 to 9/25.
FX Weekly
USD/JPY begins the week massive overbought followed by overbought USD/CHF and oversold USD/CAD. Last week, USD/CAD and USD/CHF were overbought and USD/JPY neutral.
JPY cross pairs last week were oversold and this week best trades are located in AUD/JPY, CAD/JPY and CHF/JPY. EUR/JPY, GBP/JPY and NZD/JPY remain last in the JPY cross pair rankings.
Best currencies to trade this week: EUR/USD, AUD/USD, AUD/JPY, NZD/USD, EUR/AUD, USD/CAD, CAD/JPY, CAD/CHF.
CAD/CHF was added again to weekly trades. CAD/CHF Correlations to USD/CAD run -91% and +91% to CAD/JPY.
NZD/USD is again deeply oversold to begin the week as was the situation last week but NZD/USD and NZD cross pairs contain range and Noise problems.
GBP
Best trades: GBP/USD, GBP/CHF and GBP/CAD. GBP/JPY remains dead last as GBP/JPY sits on a vital MA and GBP/JPY lacks range however massive overbought USD/JPY will assist GBP/JPY's drop.
Weekly Trade USD/CAD
USD/CAD runs almost the exact same trade as last week. The option remains open for long USD/CAD as the 1st leg however trades and rankings are based on easy trades and easy profits without struggle, guesses or gambling.
1st Leg
Short 1.2700 and 1.2713 to target 1.2629.
Price path to target: 1.2687, 1.2674, 1.2661, 1.2648, 1.2635 and 1.2622
2nd Leg
Short below 1.2609 to target 1.2557
3rd Leg
Long 1.2557 to target 1.2583.
4th Leg
Long 1.2629 to target 1.2661.
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