Brian Twomey
Brian's Investment
Trade Rankings EUR/USD, EUR/JPY, EUR/NZD, AUD/JPY, AUD/USD, EUR/AUD, NZD/JPY, NZD/USD, CAD/JPY, USD/CAD, AUD/CHF, NZD/CHF
USD/JPY this week is in a literal do or die situation at 109.49 however all JPY cross pairs are oversold and explains EUR/JPY's position in second this week. EUR/JPY is followed by AUD/JPY. Least favored is NZD/JPY.
USD/CAD last week traded 99 pips to match EUR/USD and 123 pips 2 weeks ago. CAD/JPY traded 86 pips last week and 144 pips 2 weeks ago.
Oversold EUR/NZD contains divergence to GBP/NZD as GBP/NZD also sits at a literal do or die situation.
AUD/USD will continue to perform perfectly while nothing special to NZD/USD however NZD trades are good but overall profits will falter due to severely compressed ranges for all currency pairs. NZD/USD as lowest exchange rate among 60+ currencies always suffers the effects to dead ranges to wider movement currency pairs.
GBP Trade Rankings
GBP/USD, GBP/AUD, GBP/CHF, GBP/JPY, GBP/CAD and GBP/NZD.
GBP/USD is in a cautionary 1st position as ranges died. GBP/USD traded 105 pips last week and this week won't see improvements. Recall last week, GBP/USD earned last position and a correct analysis.
Last week's trade winners as best movers were GBP/CHF, GBP/AUD, GBP/CAD and GBP/NZD. If GBP/USD dies then GBP/JPY naturally follows. GBP/JPY earns middle position to rankings due to a horrible position to begin the week.
Overall, currency markets to include USD/EM and EUR/EM begins the week in neutral positions. The best of USD/EM and EUR/EM trades were taken and profited.
RBNZ
RBNZ interest rates are far to high. The 90 day rate informs to no changes.
EUR/EM
EUR/HUF
Severely oversold and targets 354.45 from 252.54.
EUR/MYR Targets 4.9779 from 4.9770.
USD/EM
USD/MYR remains slightly overbought however not to the degree to get excited.
Deeply oversold USD/TRY target 8.6472 while overbought USD/ZAR targets 14.6021.
USD/TRY is in deep contention with oversold EUR/TRY. Only one currency can win.
NZD/EM
NZD/BRL do or die at 3.6928
NZD/CNY Do or die at 4.5670
NZD/CZK Longs from 15.1024 and 15.0804 targets 15.1464.
NZD/DKK Deeply overbought targets 4.4259.
NZD/HUF Long 210.11 and 209.86 targets 210.85
NZD/MYR overbought and Short 2.9831 to target 2.9687
NZD/PLN Overbought and short 2.7286 and 2.7307 to target 2.7143.
NZD/RON overbought and short 2.9320 and 2.9343 to target 2.9226.
Mahority of the NZD big EM movers are overbought and EUR is the overbought region.
Nothing excited expected for RBNZ. Best NZD/USD shorts targets 0.6979.
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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Editors’ Picks
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 inflation forecast, disappointing the Japanese Yen buyers.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
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US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.