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Weekly currency pair order of trade operations

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.

Author

Brian Twomey

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.

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