Currency Market: Weekly currency pairs
From January 3rd long term forecasts, last week compared 8 trade days while today another trade week is viewed from most significant MA’s.
AUDUSD January 14th
AUD/USD: 0.7498 Vs 0.7821 or 323 pips
Last week: 0.7530 Vs 0.7821 or 291 pips and a 32 pip compression to overall ranges.
This week: 0.7535 Vs 0.7821 or 286 pips and a 5 pip compression from last week and 37 pips overall in 3 weeks.
Between 0.7535 and 0.7821 are minor levels to trade weeklies. This week for example 0.7723 to 0.7629 or 0.7582 to 0.7629.
January 9th, AUD/USD opened the week at 0.7765 then opened January 16th at 0.7700 or a 65 pip week.
January 16 to 23, AUD/USD opened at 0.7700 to close at 0.7710 for a 10 pip difference.
January 23rd to January 30 AUD 0.7710 Vs 0.7637 or 73 pips.
EUR/USD
EUR/USD January 14 Significant MA’s as follows: 1.2119, 1.2020, 1.2038 Vs 1.2630.
From 1.2119 to 1.2630 = 511 pips.
Last week: 1.2116, 1.2020, 1.2030 vs 1.2628. From 1.2116 to 1.2628 = 512 pips.
EUR/USD moved 1 pip in 8 trade days.
This week: 1.2113, 1.2020, 1.2034 Vs 1.2627 = 514 pips
EUR/USD gained 3 pips to its overall range in 3 weeks.
Weekly January 9 to 16, EUR/USD opened at 1.2216 and closed 1.2074 or 142 pips.
January 16 to 23rd: 1.2074 to 1.2169 or 95 pips
January 23 to 30th: 1.2169 to 1.2132 or 37 pips.
USD/CAD
USD/CAD January 14 Significant MA’s as follows: 1.2586 Vs 1.2924 and 1.2976. From 1.2586 to 1.2976 = 390 Pips.
Today. 1.2586, 1.2886 and 1.2976 or 390 pips and no change over 8 trade days.
This week: Today. 1.2586, 1.2886 and 1.2976 or 390 pips and no change.
January 9 to 16: 1.2684 to 1.2736 or 52 pips.
January 16 to 23rd: 1.2736 to 1.2729 or 6 pips.
January 23rd to 30th: 1.2729 to 1.2773 or 44 pips.
Canada Interest Rates
From last week. Corra 0.1900 Vs OMMFR 0.1908. USD/CAD failed to sustain its break 1.2886. Longs and shorts for longer periods are in do or die mode.
GBP/USD
GBP/USD January 14 Significant MA’s as follows: 1.3351 and 1.3360 Vs 1.3832 or 481 pips from 1.3832 to 1.3551.
Last week: 1.3408 and 1.3360 to 1.3832. From 1.3832 to 1.3408 = 424 pips and a compression of 57 pips to overall ranges.
This week: 1.3448, 1.3360 Vs 1.3832 or 384 pips, a compression of 40 pips from last week and 97 pip in 3 weeks from 481.
January 9 to 16th: 1.3554 to 1.3575 or 21 pips
January 16 to 23rd: 1.3575 to 1.3671 or 96 pips.
January 23rd to 30th: 1.3671 to 1.3688 or 17 pips.
GBP/JPY
GBP/JPY. January 14 Significant MA’s as follows: 139.25 Vs 144.31 and 146.14 or 689 pips from 146.14 to 139.25.
Last week: 139.76, Vs 144.31 and 146.14 or 689 pips from 139.15 to 146.14 or 638 pips from 146.14 to 139.76.
Bottom average rose by 51 pips to compress ranges by exactly 51 pips.
This Week: 140.25, 142.66, 144.31 Vs 146.14 or 589 pips and an overall range compression of 100 pips.
January 9 to 16: 140.92 to 141.03 or 11 pips.
January 16 to 23rd: 141.03 to 141.95 or 92 pips.
January 23 to 30th: 141.95 to 143.39 or 144 pips.
The Week
GBP
Same story as last week, Overbought, GBP/USD, GBP/CHF, GBP/CAD and GBP/JPY. Nothing special to GBP/NZD however GBP/AUD watch 1.7852.
JPY
USD/JPY 104.66 close, watch below 104.31. All JPY cross pairs are deeply overbought.
USD/JPY Vs USD/CAD, VS USD/CHF Vs CAD/ZAR
USD/CAD trades below at 1.2886, USD/CHF trades below at 0.8961, CAD/ZAR trades below at 11.9845.
USD/JPY Vs EM
USD/PLN Trades below 3.7521, USD/RON trades below 4.0473, USD/MYR Trades below 4.0487, USD/BRL trades above 5.3622, BRL/JPY trades below 19.4665.USD/HUF trades below 297.92
USD/JPY is vulnerable to a break lower at 104.31 to match counterparts. Current range 103.25 vs 106.00. USD/JPY currently sits at perfect neutral for the week. Next big point above 104.92.
From last week. Japanese Call Rates 0.988 Vs Deposit rate 0.900.
AUD
AUD/USD sits at perfect neutral while AUD/JPY, AUD/CHF are overbought and deeply oversold AUD/CAD. Lowest pair AUD/USD neutral Vs highest AUD/CAD neutral. AUD/JPY and AUD/CHF must rightsize to AUD/USD and AUD/CAD.
AUD/USD Breaks 0.7535 and AUD/CAD 0.9705 then AUD/JPY breaks its 5 year average at 79.72 to head lower and AUD/CHF follows.
EUR/CAD close at 1.5503 sits exactly on big break 1.5503. Last week, EUR/CAD sat 8 pips above vital break and traded 100 ish pips lower.
GBP/AUD 1.7852 and trades above while EUR/AUD trades below 1.5979, big divergence.
NZD
NZD/JPY and NZD/CHF sits deep overbought while NZD/USD and NZD/CAD retain fairly neutral positions. Same story as AUD.
Month End Vs Maintenance Periods
Month end 30 days vs Maintenance Periods 35 days. Traders talk about Month end. Central Banks meetings occurr every 35 days. Current Central bank meetings represent the last days of 35. Rare day to see 30 trader day coincide to central bank 35.
