FX next week: 10 currency levels and targets

EUR/USD target at 1.1044 complete from entry at Anywhere. For May and June, EUR/USD traded at 1.0600's. The pen, paper and calculator will always remain the most powerful, accurate and profitable trading tool. No computer nor the Algo BS can beat a calculator.

EUR/USD trades 1.0948 to 1.1120 and 1.1120 to 1.1349. For next week, EUR/USD hurdles are located at 1.1176 and 1.1180. EUR/USD must clear 1.1180 to target next 1.1240. And every 30 pips to 1.1360 as most powerful average.

Current EUR/USD trades Richter Scale overbought from 1.0800's. Break at 1.1120 targets 1.1062, 1.1005 and 1.0976. A further rise for EUR/USD is stopped by 1.0800.

DXY broke lower to 100.00's from its 5 week range at 102.00's to 103.00;s. DXY's new range trades from 100.00's to 102.00's.

GBP/USD next line above is located at 1.3031 and 1.3072 to target next 1.3195. GBP/USD trades in an overall range from 1.2867 to 1.3252. Current GBP/USD at 1.3000's trades massive overbought from 1.2500's and 1.2600's. Shorts target 1.2949, 1.2908 and 1.2898. GBP/USD move lower is a correction due to overbought.

USD/JPY last week: Break at 140.00's targets 138.08. USD/JPY dead stopped at 138.06. USD/JPY larger range is located from 138.09 to 131.61. Next target is found at 136.76. Only a break above 139.69 delays USD/JPY's impending downfall.

USD/JPY and BOJ

True to form, the BOJ released Producer Prices yesterday. Current June Producer Prices sit at -0.2 from May at -0.7. The Export side to PPI is just fine and Exports beat Imports.

Most vital to BOJ is no intervention and no imperative for Ueda to change one iota of policy. The timing for Ueda's arrival was godsend perfect as the BOJ completely overhauled policies and economic releases. Nothing exists for UEDA to do except sit back and watch other central banks screw up their economies.

Most important is the big mouths at the BOJ disappeared and USD/JPY will achieve another 1000 pips by screw ups at the FED but not from the BOJ side.

EUR/AUD targets 1.6189 and 1.6056 while GBP/AUD targets 1.8676 and 1.8626 to start.

GBP/CAD trades 1.6692 to 1.7253. At current 1.7100's and deeply overbought, lower requires a break at 1.7096 to ensure target at 1.6998. Watch for shorts at 1.7153 as the next vital line above current price.

AUD/USD trades 0.6701 to 0.6902 and overbought from 0.6700's yet oversold from 0.6900's.

NZD/USD trades 0.6199 to 0.6193. Above 0.6393 targets 0.6421.

Both AUD/USD and NZD/USD longer term trade deeply oversold. A fairly normal price for AUD/USD is break 0.6902 and 0.7055. Failure to break leaves AUD/USD in continuous oversold circumstances. NZD/USD above 0.6393 trades 0.6393 to 0.6558. Above 0.6558 trades fairly normal and 0.6558 matches to AUD/USD at 0.7055. Failure to break 0.6393 and 0.6558 then NZD/USD tyrades in permanent oversold conditions.

GBP/NZD traded lows at 2.0481 from 2.0900's. Next targets 2.0147, 1.9948 and 1.9916. Add GBP/NZD to the 15,000 and 20,000 pips banked since December / January. And on to 50,000.

USD/CAD trades deeply oversold and must break 1.3353 to target 1.3400's.