Currency market: EUR vs EM currency trades and targets
|EUR viewed from EM currencies as EUR/EM sits this week massively oversold and many pairs exist to fit the criteria. EUR/EM massive oversold complements and confirms equal overbought from USD/EM. Trade action, big profits and easy trades are seen most specifically in EM markets either as short USD/EM or long EUR/EM.
Long EUR/USD strategies over past weeks resulted in correct trades, analysis and a smart strategy. No analysis nor thoughts are involved this week to long EUR/USD nor to its position as first among the first 12 currency pairs.
G28 and EM currencies are all connected and interrelated to each other and not total separate markets as if both were separate planets. Its not the case. EM currencies contain wide ranges and move far and wide while G28 currencies move slow and not very far. Easier to view EM as overbought / oversold than G28 therefore easier to see great trades for EM but also direction to G28.
Practically every EUR/EM currency sits deeply oversold. Take your pick.
EUR/BRL not much happening to EUR/BRL nor USD/BRL.
EUR/CNY Long targets 7.6520 for +300 pips.
EUR/CZK Targets 25.4697 easily.
EUR/DKK Nothing here but overbought USD/DKK only trade short. Good advice: never trade EUR/DKK only USD/DKK.
EUR/HRK longs target 7.5107 and short USD/HRK was posted.
EUR/HUF targets 355.49
EUR/ILS Longs target 3.8270
EUR/INR Massive oversold targets 88.13
EUR/MXN targets 23.77 and don't bother to trade EUR/MXN
EUR/MYR nothing here
EUR/PLN Shorts target 4.5623, better trade short USD/PLN.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.