Brian Twomey
Brian's Investment
EUR/USD shorts remain protected below 1.1721 anf for today from long term forecasts, 1.1620 an 1.1665 remain vital breaks for higher. Today's vital upper points are located at 1.1671 to target 1.1701 then short. Bottoms target 1.1582 and 1.1596. Yesterday's EUR/USD dropped from 1.1668 to 1.1616 lows.
GBP/USD 1.3840 dropped yesterday from 1.3832 to 1.3719. Today's day trade highs are located at 1.3847 and 1.3856 to bump against vital 1.3840. Lows are found at 1.3733 and 1.3716.
AUD/USD tops today are located at 0.7524 and 0.7519. Then short. Weekly shorts begin at 0.7495. AUD/USD Lows today are located at 0.7448 and 0.7457. Then long.
Deeply oversold USD/CAD maintains big break at 1.2351 and traded 1.2408 and 1.2312 or 96 pip range in the last 4 trade days. Today's top is located at 1.2416 and 1.2408 vs bottoms at 1.2292 and 1.2297.
While USD/CAD maintains deeply oversold status, EUR/USD sits neutral for any prices in the 1.1600's.
USD/CNY
USD/CNY Fix as written for yesterday reported 6.4354 and 6.4329 for 24 hours ahead. The ECB today informed 6.3890, a miss by 439 pips. The ECB changed the rules of the road for the day and its not unusual.
The 6.3890 Fix was derived from USD/CNH about 30 minutes prior to the ECB release. If USD/CNH was factored 30 minutes prior to ECB then a miss was realized at most 55 pips. Overall, 6.3890 was an impossible number to obtain for USD/CNY so the ECB played dirty pool as they had no choice but to factor USD/CNH.
The methodology remains solidified without changes and appears impossible to alter.
The positive to USD/CNY 6.4300’s forecast was a break lower offered a short trade for 500 pips. Don't lose sight to trade able levels.
EUR/CNY
EUR/CNY as written 24 hours in advance reported 7.4644 and 7.4571. The ECB informed 7.4464, a miss of 107 pips. EUR/CNY was factored by the ECB 2 hours prior to the release. If the calculation was done 2 hours before the release then at 7.4464 was nearly perfect.
EUR/CNY traded 500 pips today from the break at my reported 7.4644 and 7.4571.
USD/CNY for today: 6.3872 and 6.4055.
EUR/CNY for today: 7.4305 and 7.4372.
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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