Overall FX markets are trading in 150 and 200 pip ranges between vital averages
From FX weekly, CHF//JPY targets easily 168.44 while lows traded to 168.83. CHF/JPY opened the week at 170.13, traded highs to 170.24 then dropped to 168.83 for +130 pips. GBP/JPY from 183.70 traded to lows at 182.74 for +96 pips. USD/JPY target at 142.93 traded to lows at 143.42 from 144.59 for +117 pips.
The 3 trades offered from FX Weekly total 300 pips in the 3rd week of neutral and range markets. Overall FX markets are trading in 150 and 200 pip ranges between vital averages.
No breakouts nor breaks of significant averages are seen for next week yet breaks at significant averages are required for markets to move again. FX includes EM currencies as neutrality exists across all EM currencies.
Next week
The only trades available next week are deeply overbought USD/JPY and JPY cross pairs. JPY cross pairs includes most EM currencies as EM/JPY.
Targets
USD/JPY break 145.06 targets 144.40.
GBPJPY Target 183.83 easy.
EURJPY 158.31.
CHFJPY 169.41.
CADJPY 108.13.
NZD/JPY 89.50.
AUD/JPY 96.44.
SGDJPY Targets 108.74, 108.57, Break 108.40 then lower.
CNYJPY 20.24.
HUF/JPY 0.4161.
NOKJPY 13.8659.
PLNJPY 36.2426.
RONJPY 31.8235.
SEKJPY 14.0360.
GBP/AUD and EUR/AUD vital levels at 1.9003 and EUR/AUD 1.6406 decides trades for next week. Short is best trades for GBP/AUD and EUR/AUD. GBP/AUD targets 1.8882 easily.
GBP/NZD and EUR/NZD trade in the same predicament as GBP/AUD and EUR/AUD. Vital levels GBP/NZD 2.0484 and EUR/NZD 1.7686. GBP/NZD targets 2.0326
EUR/USD trades the same 3 week story to ranges from 1.0889 and 1.0893 to 1.1060.
GBP/USD trades overbought from 1.2592 and 1.2612 to 1.2786. The 5 year average is located at 1.2832.
AUD/USD trades 0.6638 to 0.6779 and NZD/USD 0.6158 to 0.6284.
USD/CAD 1.3442 for higher. Short is the way to target high 1.3200's.
GBP/CAD trades deeply overbought to match the GBP universe except for range to GBP/CHF.
EUR/CAD trades overbought and targets 1.4643.
EUR/CAD and GBPCAD both lack range ability.
EUR/CAD vs SPX 500
The SPX targets at low 4500's trades when EUR/CAD trades below 1.4500's.
USD/CHF and CHF cross pairs trade oversold however nothing special exists to CHF.
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.
