Clear drivers and leaders to Currency markets over the past 4 ish weeks are USD Vs Non currency pairs. Non USD currency pairs are EUR/USD, GBP/USD, NZD/USD and AUD/USD Vs USD/CAD, USD/CHF and USD/JPY. Non USD currency pairs all trade above respective MA's while USD pairs trade below.

The Non USD Vs USD lineup is correct. The correct lineup and sufficient ranges  is what drove trades over the past month as clear long and short points were identified. Trades in USD Vs Non USD was the only trades of any profit value and the same situation exists in the current week. The same circumstance may exists for many weeks to come.

The non drivers and non leaders to Currency markets over the past 4 ish weeks are currency cross pairs in the universe of USD vs Non USD.

Viewed from EUR top and NZD bottom currency pairs, its obvious why cross pairs aren't moving nor trading correctly and its due to cross pair mis positions.

NZD

NZD/USD trades above MA's.

NZD/JPY trades above 69.56 by 2 pips.

NZD/CHF Trades below.

NZD/CAD trades below.

2 pairs trade above and 2 pairs trade below. This situation is clearly enough to compress ranges.

NZD/CHF for example is a dead issue to ranges due to its position between NZD/CAD and NZD/JPY. NZD/CAD's correct position is above all  NZD pairs and should be the first currency pair shown. NZD/CAD as first position and top currency pair drives the NZD universe.  NZD/CHF's correct position is bottom pair. When NZD/CHF assumes its correct position as bottom pair then it trades correctly and in its proper ranges. NZD/JPY lacks a clue to direction as it can easily fly either way. NZD/USD exits as the only clear trade.

EUR

EUR/USD trades above

EUR/JPY above by 12 pips

EUR/CHF  below

EUR/CAD below

EUR/NZD Below by 2 pips

EUR/AUD above

EUR/GBP above.

EUR/USD is clear driver and only trade beside EUR/AUD. Ranges severely compressed as EUR/USD must decide the fate of its cross pairs.

GBP

GBP/USD trades above

GBP/JPY below

GBP/CHF below

GBP/CAD below

GBP/NZD below

GBP/AUD above by 3 pips. Ranges went into severe compression mode.

AUD

AUD/USD above by 2 pips

AUD/JPY below

AUD/CHF below

AUD/CAD below

AUD/NZD below

Ranges in AUD are good in relation to its counterparts and sufficient enough to see a good move for this week's RBA announcement.

USD/CAD trades below its vital MA;s but contains excellent ranges.

EUR/USD, USD/CAD  and AUD/USD contain the best ranges to trade this week as USD Vs Non USD drive this week markets.

Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

AUD/USD battles 0.7100 as USD picks up bid on souring sentiment

AUD/USD eases from a weekly high of 0.7137 and flirts with 0.7100. The US dollar gains its feet across the board amid risk-aversion after American intelligence officials said that Russia and Iran have attempted to interfere in next month’s presidential election.

AUD/USD News

USD/JPY bounces off monthly low towards 105.00 as market optimism fades

USD/JPY retraces the biggest losses in two months from 104.34. S&P 500 Futures, Nikkei 225 drop around 0.50%, stocks in Pacific are also down. Japan’s All Industry Activity Index, risk catalysts will be the key to watch.

USD/JPY News

Gold bulls await fresh clues to probe monthly top below $1,950

Gold buyers catch a breather above $1,920 after posting the biggest gains in a fortnight. COVID-19 data from US states, Victoria propel fears of wider wave 2.0. US Initial Jobless Claims, aid package updates will be the key.

Gold News

WTI: Buyers lurk around 100-day EMA

WTI bounces off $39.83, the lowest in one week, to battle 50% Fibonacci retracement. EIA inventories recovered from -3.818M prior, -1.021M forecast. The energy benchmark dropped the lowest since October 15 the previous day.

Oil News

2020 Elections: Trump is is showing signs of a comeback, will the dollar follow?

"It ain't over till the fat lady sings" – goes the adage which is relevant for the 2020 Presidential Elections as well. Two weeks ahead of election day, there are signs that incumbent Donald Trump is clawing back some support, raising the chances that the race could drag on for longer.

Read more

Forex Majors

Cryptocurrencies

Signatures