Currency market: EUR/USD, GBP, AUD, JPY, CNY fix
|EUR/USD violated 1.1665 on Tuesday by 3 pips then dropped. if 1.1665 held then 1.1665 to 1.1722 range. Nothing to trade nor write about from 1.1665 to 1.1722.
What's 1.1722 today but a drop of 2 pips from yesterday. The line is holding steady all week and moved a total of 6 pips. As written last week, EUR/USD earned a place on the last ranking for this week and this was correct.
EUR/USD yesterday again challenged 1.1665 by trading to exactly 1.1665 then dropped yet again.
GBP/USD 1.3840 held all week and traded highs at 1.3832 then dropped. GBP/USD 1.3840 breaks higher then upper decks for GBP/USD.
EUR/USD yesterday traded to 1.1603 lows and in between 1.1617 to 1.1594. Highs at 1.1665 traded from 1.1632 to 1.1682.
GBP/USD traded to 1.3776 lows and in between 1.3764 and 1.3782 or low to mid range.
AUD/USD traded to 0.7459 and violated 0.7463 by 4 pips. Longs began with 4 extra pips added to profits.
Appearance is always deceiving for market prices becausae not all markets prices are the same, especially FX prices. For this reason, a market price cannot program on a computer because to many changes occurr to supports, resistance points and to ranges.
Then again, takes about 3 minutes by hand to factor a day trade for 1 currency pair and 5 and 10 minutes for weekly trades. The key respectfully is to understand the market price and this is where all fail the mission. Most are outside the price looking in when the proper method is go inside to look out. Explains why Elliott waves your money good bye and the impossibility for contributors to trade own recommendations.
AUD/USD question was at what time did 0.7459 trade. Lows within the proper day trade time frame actually traded to 0.7477 lows as 0.7459 achieved after 10 am and the time to exit day trades for the day.
Day trades for Americans grows much worse as the 2 week fall back time means day trades begin at 1.30 am. The choices are be ready or forget day trades because nothing will be left to trade.
Added today was the ECB's EUR/USD fix
EUR/USD 5 numbers for today 1.1572, 1.1598, 1.1612, 1.1661 and 1.1692. No difference from yesterday and frankly, no difference all week.
GBP/USD 1.3726, 1.3756, 1.3772, 1.3831 and 1.3866.
AUD/USD 0.7449, 0.7468, 0.7475, 0.7506 and 0.7527.
USD/JPY 113.39, 113.64, 113.81, 114.24 and 114.53.
USD/CNY, EUR/CNY and EUR/USD fix
USD/CNY 6.3918 – 6.3878.
ECB today 6.3988, off 70 pips.
EUR/CNY 7.4425 – 7.4347.
ECB today 7.4463, off 38 pips.
Problem I was actually off 1 pip to EUR/CNY and only a few pips for USD/CNY. I factored an extra step when none was required..When is a market price not a market price. This is the point when central banks contain the ability to stick it in your back and most don't understand how it happens.
USD/CNY, EUR/CNY and EUR/USD
USD/CNY 6.3988 and 6.3916 See 6.3988.
EUR/CNY 7.4485 and 7.4358.
EUR/USD 1.1653 and 1.1629.
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