Last time we visited 5 year averages, the vast majority of 28 currency pairs traded not only below but far below. The moment is here for Non USD pairs to head higher and break 5 year averages or the huge reversal is upon us. The EURUSD is the main pair to watch as it leads its counterparts by break of its 5 year and now approaches the 10 year at 1.2182.
GBP/USD and USD/CAD at 1.3252 and 1.3189 is also upon us. If both break higher and lower then GBP/JPY becomes a great long term trade higher.
AUD/USD at 0.7283 is here while NZD/USD contains another 200 pips to its 5 year.
EUR/JPY is the outlier within JPY cross pairs as it broke its 5 year average at 124.98 and next comes the 10 year at 129.00’s. Problem is 125.00’s contain many resistance points dating to 1998 at 125.27 125.59 and 125.70, then comes 126.05.
GBP/CHF as mentioned remains a great long term trade as its 5 year average is located at 1.3014. Same for AUD/CHF.
GBP/CAD remains a problem and will maintain problem status for many months in the future. EUR/CAD qualifies as the better trade. AUD/CAD remains its traditional dead mover.
GBP/NZD doesn’t have a clue which direction to take while EUR/NZD is the better trade, particularly subject to an out of control EUR/USD.
EUR/AUD is the better trade to GBP/AUD although GBP/AUD is deeply oversold from a long term basis.
EUR/GBP long term is massively overbought and is a non trade able currency pair
USD V Non USD
EUR/USD 5 year average 1.1290, 10 year 1.2182
GBP/USD 5 year 1.3252
AUD/USD 5 year 0.7283
NZD/USD 5 year 0.6805
USD/CAD 5 year 1.3189
USD/JPY 5 year 110.74, 10 year 102.19
USD/CHF 5 year 0.9822, 10 year 0.9546
JPY Cross Pairs
EUR/JPY 5 year 124.98, 10 year 129.23
GBP/JPY 5 year 146.98
AUD/JPY 5 year 80.65
NZD/JPY 5 year 75.33
CAD/JPY 5 year 84.03
CHF/JPY 5 year 112.76
CHF
EUR/CHF 5 year 1.1085, 10 year 1.1591
CBP/CHF 5 year 1.3014
AUD/CHF 5 year 0.7152
NZD/CHF 5 year 0.6683
CAD/CHF 5 year 0.7453
CAD
EUR/CAD 5 year 1.4879
GBP/CAD 5 year 1.7472, 10 year 1.7116
AUD/CAD 5 ear 0.9594, 10 year 0.9817
NZD/CAD 5 year 0.8966
NZD
EUR/NZD 5 year 1.6622
GBP/NZD 5 year 1.9521, 10 year 1.9751
AUD/NZD 5 year 1.0702, 10 year 1.1362
AUD
EUR/AUD 5 year 1.5536
GBP/AUD 5 year 1.8238, 10 year 1.8627
EUR/GBP 5 year 0.8548
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
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