FX mid week

Brian Twomey Brian's Investment

EUR/AUD from the top at the 1.6800 line last Wednesday traded 500 pips lower to 1.6300's. The 1.6800 line is now 1.6700's as the top. Break at 1.6368 targets next 1.6268 and +600 pips.

USD/JPY overbought at 136.00 lines means richter scale overbought from 113.00, 116.00's, 120.00's and vital 125.00's. The BOJ added an extra 200 pips to shorts and overall profits.

USD/JPY from 113.00's to 138.00's = 2500 pips or 1 currency cycle. USD/JPY 152.00 - 127.00's or 2500 pips and 1 currency cycle.

From Sunday, GBP/NZD’s next big lines at 2.0357 and 2.0397. GBP/NZD dropped from 2.0353 to 1.9980 lows or 373 pips. Next lows 2.0009 and 1.9923.

EUR/NZD from the overbought 1.8000 's line traded 300 pips lower to 1.7700's. Next on the agenda is 1.7644 and 1.7558. EUR/NZD big line drops 100 pip from 1.8000's to 1.7900's. Means short 1.7800's if seen.

GBP/AUD break 1.8768 targets the big line break at 1.8563.

EUR/USD same old range story upon price settlement, 1.0817, 1.0955, 1.1137.

Overbought GBP/USD big line break is now 1.2591 then 1.2500's to 1.2800's. We looking for the 1.2700 target to complete. Overall GBP/USD trades 1.2284 to 1.2591 then 1.2591 to 1.2800's.

EUR/USD top today 1.1045 and 1.1073. GBP/USD's top 1.2514 and 1.2546. Will the ECB raise? Not from an interest rate perspective and I see on hold.

Overbought USD/CAD targets 1.3400's easily and shorts for GBP/CAD and EUR/CAD. Watch CAD/JPY lower on break 99.41.

AUD/USD must clear 0.6692 for higher while NZD/USD becomes overbought at 0.6246.

DXY overbought at 102.00s and next week overbought from 101.00's on a slow crawl lower.

USD/EM

USD/CZK traded to 21.3400 lows from 2.5650 highs. Target 21.2468.

USD/TRY ranges from 19.5503 to 19.3461. Actual 19.4340 to 19.5007. Range range is the USD/TRY story over the past 3 weeks.

USD/MYR break 4.4465 targets 4.4224. USD/MYR traded to lows 4.4498.

Massive overbought GBP/NOK targets 13.2122. Lows achieved 13.3521 from 13.5035 highs.

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.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

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XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.