FX weekly – DXY and 28 currency pair levels and targets

For 28 currency pairs in the trade week from April 2 to April 7,  the  average is  1.1536 and 1.1583 to include DXY as the 29th currency.  The average at 1500's is an adequate average and holds fairly constant throughout any trade year with  about a 200 point total movement. 

CHF/JPY was excluded from consideration. To include CHF/JPY, the current balance to currency markets as 28 currencies is arranged as 15 pairs such as EUR/USD trading with a 1 point and 13 currencies such as AUD/USD trading as 0 point. CAD/JPY, AUD/JPY and NZD/JPY are actually 0 point currencies and re arranged as 0 point to meet the total of 13 trading as 0 point currencies. 

To include DXY and CHF/JPY, the 0 vs 1 point exchange rate balance holds at 16 vs 13 or 15 Vs 13 to include DXY and exclude CHF/JPY. 

Approximately, 3900 to 4000 pips are available to trade in any given week from 29 currencies to include DXY. Last week, a total 5931 pips traded from 28 currencies and 6095 pips to include DXY as the 29th. The 0 point currencies traded a total of 2097 pips Vs 3834 pips from 1 point exchange rates. Include DXY then 3998 pips traded.

Subtract the 1535 pips traded last week from wide rangers GBP/NZD, GBP/AUD, EUR/AUD, EUR/NZD then a total of 4560 pips traded from 1 point currencies. The 1 point currencies at 4560 pips traded just above  2 X from 0 point currency ranges.
Obviously outliers exists to currency markets and prices and possibly a more accurate view is to trim means to exclude deviations as the old historic method from the SNB. Then the question to duplicated currencies such as GBP/NZD Vs EUR/NZD, EUR/AUD Vs GBP/AUD, AUD/CAD Vs AUD/NZD, USD/CAD Vs CAD/CHF. 

GBP/AUD for example traded 431 pips last week followed by GBP/NZD at 390. From 0 point currencies, AUD/JPY traded 257 pips and CAD/JPY at 208. The winners to standard 0 point currencies were USD/CHF at 190 pips , NZD/CAD 166 and

NZD/USD at 172. EUR/GBP traded a total of 77 pips. 

While currency prices smashed the averages and available traded pips, the question is how does each category stack up against the averages and in relation to each other. The question begins with EUR/USD. 
EUR

The 5 EUR currencies to include EUR/USD and EUR/GBP traded a total of 1576 pips last week and 1499 pips to exclude EUR/GBP. The EUR average is located at 1.3204 and 1.3944 to include EUR/GBP. The total average for traded pips is located at 225 and EUR/USD last week traded 185 pips. 

GBP

The 6 GBP currencies traded a total of 1891 pips vs a traded pip average at 315 and total at 1.5877. GBP/USD traded 251 pips last week. 

AUD

The 5 AUD currencies traded a total of 932 pips last week to include AUD/NZD and 718 pips to exclude AUD/NZD. The total AUD average is located at 0.8238 and 0.7629 to exclude AUD/NZD and trade average at 189.0. AUD's 3 main currencies as AUD/USD, AUD/CHF and AUD/CAD traded a total of 461 pips as AUD/USD and AUD/CHF each traded 153 and 152 pips. Only AUD/JPY and AUD/NZD exceeded the traded average. 

NZD

NZD's 4 currencies traded a total of 661 pips and an average at 0.7152 vs a traded pip average at 165. 

USD

USD/JPY, USD/CAD and DXY traded a total of 608 pips and 444 to exclude DXY. Only USD/JPY exceed the total 208 traded average.

This week, 3900 pips are again available to trade and 4045 to include DXY. 

The week

The slight problem to the week is the ECB never reported a FIX price for Friday to allow for system update to prices. The vast majority of trade systems are connected directly to ECB prices. Reported entries and targets today may or may not hit exactly but will trade extremely close. 

USD/JPY for example ranges from 132.25 to 132.80 and we're short from around 132.80. Lows are seen at 130.61.

GBP/JPY traded 1000 pips from vital support at 156.00's. A break at 162.91 targets the lows again with a week target at easily 162.40.

CAD/JPY shorts are good to go below 98.94. CAD/JPY then ranges from 94.91 to 98.94 or 400 pips. 

EUR/JPY requires a break below 143.04 to target 141.70. 

EUR/USD above 1.0933 targets 1.0993, 1.1031 then 1.1064. Levels are close but may not hit exactly. 

EUR/USD longs are safe above 1.0691 as DXY overbought and big lines exist at upper 102.00's and 103.00's. 

In the GBP category, first priorities are short GBP/AUD, EUR/AUD and GBP/NZD then GBP/CAD. GBP/NZD, GBP/AUD and EUR/AUD are top 3 trades. 

EUR/NZD and GBP/NZD trade in agreement to shorts as well as GBP/AUD and EUR/AUD, EUR/CAD and GBP/CAD.

GBP/USD position to begin the week is not favored nor is GBP/USD on the high priority trade list to GBP currencies. Could easily result from failure to system updates. Any GBP/USD price in the 1.2200's is good for longs to target 1.2482 highs Max.

AUD/USD at 0.6659 trades at the deep oversold bottom. The break above 0.6725 targets easily 0.6755 and 0.6769. Deep oversold AUD/CHF and AUD/CAD reveals long AUD across the board. 

NZD/USD longs are safe above 0.6228 as NZD/USD trades deep oversold from not only 0.6228 but also from 0.6465. Deeply oversold NZD/CHF assist to NZD/USD longs as well as NZD/CAD above 0.8428. NZD trades in the exact same positions as AUD. Long and long drops all week. 

USD/CHF trades massive oversold and at bottoms. Targets are located at 0.9121 to 0.9141. 

CHF cross pairs trade oversold and across the board from NZD/CHF, GBP/CHF, AUD/CHF and CAD/CHF. EUR/CHF and GBP/CHF contains huge range problem. AUD/CHF and NZD/CHF are best trades and easy profits. 

USD EM

USD/BRL again trades massive oversold. Last week:  USD/BRL trades massive oversold and targets 5.0959 and 5.1226 easily. Last week highs traded a very light 5.1002. USD/BRL targets this week 5.1`078. 

EM currencies as USD/EM trade oversold to include USD/CZK, USD/DKK, USD/PLN, USD/RON. Trade strategy remains to short highs and much downside exists. 

USD/TRY trades massive overbought and targets 19.1842 while USD/ZAR also trades overbought to target 18.1468. 

USD/CNY trades this week from 6.8804 to 6.8581.