Currency market: USD/CAD, CAD/CHF, CAD/JPY, EUR/USD

Brian Twomey Brian's Investment

CAD/CHF as written Sunday, Long Anywhere or 0.7225 to target 0.7276. CAD/CHF yesterday traded straight to 0.7288 for + 46 pips from 0.7230. CAD/CHF dead stopped for the day at 0.7299.

CAD/JPY Long Anywhere or 86.46 to target 87.19. CAD/JPY traded straight up to 87.07 or 52 pips.

Deeply overbought USD/CAD traded to 1.2637 lows or 51 pips and tracking with CAD/JPY. USD/CAD achieved highs at 1.2794 and trade instruction to short anywhere.

CAD/CHF now decides in a do or die situation to break above 0.7293 to higher targets at 0.7318 or trade to 0.7253 as written Sunday.

CAD/JPY also must decide to break above 87.38 to target 87.81 or trade lower to 86.88. As written, CAD/JPY achieved lower target at 86.88.

CAD/CHF 0.7293 and CAD/JPY 87.38 are crucial points to USD/CAD lower and higher targets to CAD/CHF and CAD/JPY. USD/CAD remains overbought and targets easily 1.2601.

CAD/CHF 0.7230 and USD/GBP 0.7234 held CAD/CHF and USD/GBP higher which translates as CAD/CHF higher and GBP/USD higher, USD/CAD lower. GBP/USD achieved highs for the week at 1.3882. As USD/CAD trades short, GBP/USD traveled long.

USD/JPY as written Friday, same trade as last week by short 110.36 and 110.42 to target 109.82. Never much happening here to USD/JPY. Watch those yields.

CAD/EM and G28 as CAD/JPY and CAD/CHF traded higher to include vital currency and severely overbought CAD/ZAR. CAD/ZAR higher as the perfect opposite to EUR/USD explains lower EUR/USD for the week to achieve 1.1769 lows.

EUR/USD big break is located at 1.1866 and day trade top today is located at 1.1871. EUR/USD shorts today are located at 1.1856 to target 1.1818.

AUD/USD vs AUD/EUR

AUD/USD trades below rising line at 0.7439 and AUD/EUR trades below vital 0.6268 or EUR/AUD 1.5954. Both AUD/USD and AUD/EUR are correct to positions as well as EUR/AUD.

EUR/AUD at 1.6100's begins overbought while AUD/EUR at lower 0.6200's and higher 0.6100's starts oversold. Higher EUR/AUD then short and long AUD/USD and AUD/EUR.

Target trading begins almost year 10 since 2011 and 2012. Triangulation trades or trade of 3 currency pairs contains many, many examples on my blog for interested. The trade of 3 pairs to triangulate allows a deeper view to price targets and lends much confidence and profits to trades with understanding to how and what is traded.

Author

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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