USD Vs 16 EM Currencies and CNY and BRL

Brian Twomey Brian's Investment

EM FX Forecasts V USD and CNY, BRL

In the this post, forecasts, targets and weekly ranges for USD V MXN, RON, RUB, PHP, THB, TRY, BRL, MYR, PLN, SGD, CZK, HUF, ILS, INR, ZAR, CNY.

USD/CNY Close 6.9405. Overbought. Weekly range 6.9348 -6.8992. Target 6.8992. Must break 6.9704. Below 6.8636 targets 6.8280.

USD/BRL Close 3.9800, Deeply overbought. Short target 3.9230 then 3.8590. Must cross 3.8910. Weekly Range 3.8590 -3.9230. Below 3.8270 targets 3.7950.

USD/SGD Close 1.3773. Deeply overbought. Short target 1.3692 on break 1.3734. Weekly range 1.3692 -1.3776. Below 1.3650 targets 1.3608.

USD/CZK Close 23.1790. Short target 23.0156 on break 23.1488. Weekly Range 23.2820 - 23.0156. Break 22.8824 targets 22.7492.

USD/ILS Close 3.4939. Oversold. Short 3.4723 to target 3.5153. Weekly range 3.4293 -3.5153. Break 3.5583 targets 3.6013.

USD/INR Close 69.7000. Overbought. Short 70.0881 to target 69.6925. Weekly Range 70.4837 -69.6925. Break 69.2969 targets 68.9013.

USD/MYR Close 4.1575. Deeply overbought. Short target 4.1403 on break 4.1496. Weekly Range 4.1403 -4.1589. Break 4.1310 targets 4.1217.

USD/HUF Close 294.6400. Overbought. Short target 293.1945. Bonus short point 296.7659. Weekly Range 300.3375 -293.1945. Break 289.6230 targets 286.0515.

USD/THB Close 30.7150. Overbought. Short target 31.4329. Sell point 31.7613. Must cross 31.5971. Weekly range 32.0897 -31.4329. Break 31.1045 targets 30.7761.

USD/TRY Close 5.5611. Oversold. Good long point 5.5294 to target 5.5719. Weekly range 5.4021 -5.5719. Break 5.6568 targets 5.7417. Wide range Currency Pair.

USD/ZAR. Close 14.7885. Deeply overbought. Short target 14.5098 then 14.4134. Break 14.2206 targets 14.1242. Wide range currency pair.

USD/MXN. Close 19.3055. Severely overbought. Short target 19.2077 on break 19.2793. Weekly Range 19.3509 -19.2077. Break 19.1361 targets 19.0645.

USD/PLN. Close 3.8781. Deeply overbought. Short target 3.8431 on break 3.8676. Weekly range 3.8921 -3.8431.

USD/RON. Close. 4.2536. Neutral. Short 4.2697 to target 4.2464. Weekly range 4.2930 -4.2464. Break 4.2231 targets 4.1998.

USD/RUB. Close 65.2713. Overbought. Short target 64.7318 on break 65.0788. Weekly Range 66.1211 -64.7318. Break 64.0373 Targets 63.3427.

USD/PHP. Close 51.6500. weekly Range 51.4891 -51.9105. Break 51.4891 targets 51.0677.

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.