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Currency Market: 18 currency pair trade rankings

18 Currency Pair Weekly Trade Rankings: EUR/USD, AUD/USD, AUD/JPY, EUR/AUD, USD/CAD, NZD/USD, NZD/JPY, EUR/NZD, EUR/JPY, AUD/CHF, NZD/CHF, CAD/JPY

EUR/USD as faiirly normal week to week maintains first position. EUR/USD is not only oversold but continuation to a long only strategy will and has paid many, many pips.

EUR/AUD moves to 4th position from second last week in favor of oversold AUD/USD and AUD/JPY. The question to AUD is easy trades and most profits and AUD fits the criteria Vs EUR/AUD. AUD is the preferred pair to this week as ranges are good and normal in comparison to counterparts. Last week AUD/USD and AUD/JPY held 4th and 5th positions.

Overbought USD/CAD moves to 5th position from 9th last week. Recall last week's written words: USD/CAD this week isn’t a terrible trade yet USD/CAD ranges this week died and the position to CAD/JPY isn’t the best to location for both trades.

Last week's analysis to USD/CAD and CAD/JPY was correct as USD/CAD ranged 127 pips last week to CAD/JPY 147. Rare days when CAD/JPY outperforms USD/CAD. The opposite must hold for a normal relationship.

Oversold NZD/USD, NZD/JPY and NZD/CHF moves from 8, 9 and 10th position last week to 6 and 7 for NZD/USD and NZD/JPY and 11th position this week for NZD/CHF from 10th position last week. NZD/CHF joins with AUD/CHF as nothing going on with both pairs to easy trades and trade profits.

EUR/NZD moves to 8th position this week from 3rd position last week despite massive oversold. EUR/NZD contains not only range problems but is divergent to GBP/NZD. EUR.NZD moved 343 pips last week to 302 for GBP/NZD.

Same story this week as last to JPY cross pairs as all will tradel a bit higher then much lower along with USD/JPY. USD/CHF moves to overbought this week from deeply oversold last week and prior weeks.

DXY 92.78 and USD/CHF contains this week a 135 pip  spread and down 23 pips from last week. Better moves for DXY and USD currencies will be seen when the spread tightens.

GBP

GBP/AUD, GBP/JPY, GBP/CAD, GBP/CHF, GBP/NZD, GBP/USD   

GBP/AUD shorts into week 4 and 5 will continue to pay many, many pips and its position deserves 1st place.

GBP/USD ranged 97 pips last week, 127 for USD/CAD, 142 EUR/USD, 96 AUD/USD, 136 for NZD/USD and 162 for USD/JPY.

GBP/USD along with USD/CAD ranges died last week anf remains dead this week. Overbought GBP/CAD moves to middle position along with GBP/CHF.

EM

Oversold USD/BRK must break 5.2137 to trade lower.

Deeply overbought USD/CNY targets easily 6.4734.

Massive overbought USD/DKK targets 6.2878 from 6.3230.

Richter scale overbought USD/HRK targets 6.3432 from 6.3752.

USD/HUF lower must break 299.08.

USD/MYR short 4.2253 and 4.2281 to target 4.2137.

USD/PLN targets 3.9585

USD/RON target s1.1610

USD/TRY overbought targets 8.6043

Overbought USD/TRY Vs oversold EUR/USD is orrect.

Overbought USD/ZAR targets 14.5906

AS EUR/USD remains long only strategies USD/CAD contains a short only strategy and complies to a vast majority of overbought USD/EM currencies.

Overall, hardly any changes week to week. Written is more about hype and public relations than anything sensible to markets and movements. Trade Rankings reshuffles currencies from the same deck of cards.

Author

Brian Twomey

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

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