Target trades: GBP/USD, EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and USD/EM
|GBP/USD achieved highs yesterday at 1.2668 and 65 pips to the 1.2733 target. GBP/USD's day trade top today at 1.2683 and if seen takes GBP/USD within 50 pips to the target. A target trade must touch its destination price. That's the way this works and its the understanding to the market price.
Upon GBP/USD target completion then immediately and quickly reverse to short for extra profit pips. Shorts add to the 900 pip and 5 month long trade.
EUR/NZD traded to 1.7326 lows on targets at 1.7296 and 1.7273 from 1.8000's. EUR/NZD shorts remain valid below 1.7410. EUR/NZD traded within 30 pips to target. EUR/NZD must touch minimal 1.7296.
GBP/NZD traded to 1.9867 lows from 2.0395 and targets remain at 1.9733 and 1.9680. In the way to target is the break line at 1.9808 but this line drops as GBP/NZD trades lower to achieve target.
EUR/NZD and GBP/NZD adds 1100 profit pips to overall trades since December / January. Nothing changed to trades since 2011 and 2012 as we remain consistent to targets and profits.
EUR/AUD achieved lows at 1.6198 from 1.6300's at the weekly start. Next for EUR/AUD is break 1.6151 then the first target at 1.6043 achieves its destination from 1.6800's highs. The current trade is valued at 700 pips and much more to go.
GBP/AUD waits on a break at 1.8553. Lows traded to 1.8588. GBP/AUD big break is located at 1.8367 and plenty of room to trade lower.
USD/JPY moves on a break at 134.95.
USD/EM
The USD/EM currencies also achieved targets beginning with USD/CZK: from 21.2240 drops to 21.2092. Target achieved,as lows traded to 21.1895.
USD/BRL targets easily 5.0039 from 4.9514. Highs 5.0185, Lows 4.9439. Easy trade for +525 pips.
USD/RON targets 4.5092 from 4.4653. Highs achieved 4.4864 from 4.3595 lows.
USD/HUF traded to 339.39 highs from 336.53 lows. USD/HUF targets 345.31.
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.