Brian Twomey
Brian's Investment
EUR/USD long entry at 1.0498 traded to 1.0430 lows. When God offers blessings, take it and add 1 lot and trade to 1.0498 breakeven or trade to target. The result will be profit on the 2nd lot for 70 ish pips and exit the 1st lot for breakeven.
Today is Friday and exit at breakeven is best as new trades will be sent Saturday morning. Fresh trades are always much easier and profits quickly. Good targets today 1.0509, 1.0515. EUR/USD today won't trade very much past 1.0515 upon an outside event.
Trade results
As written Sunday, XAU/USD upside targets 1857. Actual 1843. Then short to target 1808. Actual 1791.
XAU/EUR upside target 1766, actual 1755. Shorts target 1717. Actual 1716.
Note slight miss on the upside. Doesn't bode well for long Gold next week. Targets next week for XAU/USD 1854 under an ever so slight expansion to raange.
10 Year Yield, target 3.38, actual 3.26. Then short to target 2.94. Actual 2.94.
DXY overbought at 105.00's, traded to 105.55. target below 103.59. At 105.00's achieved Thursday and lows so far 104.75.Target today should be close.
DXY traded 182 pips this week and is clearly the major problem to all markets. Explains EUR/USD extraordinary price paths this week.
SPX upside target 3960, actual 3946. Then short to 1.3600's. Lows 3739.
USD/JPY 136.00's again achieved destination for 2 straight weeks. Short target at 133.64. Lows 134.72.
Next week
EUR/JPY approaches vital 138.75 to target 136.00's and oversold in the 140.00's. GBP/JPY just below is located 162.63 and is currently oversold at middle 163.00's.
AUD/USD stood complacent while EUR/AUD traded its usual 300 ish pip range. EUR/AUD and EUR/NZD were best traded currencies this week.
AUD/USD problem to trade deep oversold is EUR/AUD but specifically AUD/EUR. AUD/EUR from 0.6512 must cross above 0.6595 for AUD/USD to trade much higher levels. AUD/EUR currently is deeply oversold along with AUD/USD.
All week, AUD/EUR traded around its vital average for the question which way to travel. This left AUD/USD standing still until a break up or down was seen. AUD/USD didn't have a clue which way to trade.
EUR/AUD at 1.5360's is short today to target break at 1.5276 then 1.5171 and 1.5119. Watch EUR/AUD big break at 1.5152.
Overall markets are in a 100 ish pip discrepancy. Note EUR/USD 100 phantom pips to the downside, DXY and USD/JPY 100 ish pips to target, SPX 3946 Vs target at 3960. XAU/USD 1843 V 1855.
Normal markets for every financial instrument on the planet must achieve target. A miss connotes a problem to price paths. A slight miss by a few pips and only a few pips is normal.
Markets impart from price paths, the positions of highly neutral, undeciided, not sure to direction.
How many times did EUR/AUD break up and down 1.5152 to trade 1.5300's and low 1.5000's. This situation is a severe problem as EUR/AUD despite 300 ish pip ranges, the price path is not correct.
How many times did GBP/AUD trade up and down 1.7759. GBP/AUD is stuck inside a 1.7800 to 1.7500 range.
EUR/NZD began the week severe overbought but then traded to 1.6900's highs from 1.6700's. GBP/NZD followed or Co moved higher by a break at 1.9434 to trade 200 pips higher to 1.9600's.
GBP/NZD was actually the better trade than EUR/NZD and traded perfectly all week.
USD/CAD remained dead all week and will remain dead next week.
The 2 currencies as main drivers to overall prices and normal movements is USD/JPY and DXY. Both derived from USD.
EUR/USD exists in the same old weekly story for next week as long is the only way forward. Targets next week at high 1.0500's and low 106.00's.
GBP/USD also remains as the same old story to oversold from the 5 day average to averages dated to 1999. Long GBP/CAD is the next best trade so far in the GBP universe.
NZD. As the topside EUR/USD pushes lower despite deeply oversold, NZD/USD follows its partners. Higher and to trend higher, NZD/USD must 0.6400's. Next week targets are located at high 0.6300's.
Market students with interest would note my blog and 15 years of trades, education, in depth market features, targets traded. Many How to's and always written in expansive detail. Added this week for example was the comcept to Co movements as it applies to EUR/NZD and GBP/NZD and GBP/AUD and EUR/AUD. Every major market event since 2008 and 2007 was covered in deep detail.
The blog at btwomey.com or insidethecurrencymarket.com is free to all and earns no revenue nor will revenue ever generate.
I reiterate, I'm not here forever nor will I become these 40 year participants still trying to hit the 20 pip trade from 40 years ago.
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.
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