Today’s currency market battle is located between 1.4400’s EUR/CAD and 144.00’s for EUR/JPY. Both correlate at +68%. However, EUR/CAD middle averages at 1.4400’s reported Tuesday held, and EUR/JPY traded above EUR/CAD. EURCAD averages 1.4465, 1.4452, and 1.4447.
EUR/CAD for today: 1.4451, 1.4460, 1.4469, 1.4478, 1.4486, 1.4495, 1.4505, and 1.4514. Bottom 1.4369. EUR/CAD trades every nine pips. EUR/JPY for today: 144.71, 144.80, 144.89, 144.98,145.07, 145.16, 145.25, 145.35. Bottom 143.89. EUR/JPY trades every nine pips.
As the same currencies, another crossover lower is in the works as EUR/JPY trades below EUR/CAD.
EUR/JPY and EUR/CAD currently trade above USD/JPY and USD/CAD; however, EUR/JPY and EUR/CAD provide from 144.00’s insight into the above resistance points. A day will come as in past years when USD/JPY and USD/CAD trade between EUR/JPY and EUR/CAD.
All retain the same currency and trading features but deserve the longer-term view in tandem for possible crossovers on a larger scale. The question is GBP/AUD as GBP/NZD, and EUR/NZD crossovers are impossible for each must trade a shared range from 2600 to 3300 ish pips. IIt'sthe difference between oversold at the 2600s and overbought at 33300s for each currency without a deeper inspection.
GBP/JPY
Deeply overbought GBP/JPY on a break of 166.21, targets 164.10 and eventual 159.87 and 159.77.
Holding GBP/JPY at current levels are averages in the 150s. Not much to report except shorts from today until 159.00’s trade.
The last long-term GBP/JPY trades written prior were 1000 and 700 pips. The trade duration was 6 and 7 weeks.
EUR/JPY
Massive overbought EUR/JPY targets are 141.49, 137.38, 135.31, and 134.48. Deep caution to 135.31 and 134.48 as vital averages at 135.21 and 131.71 must drop further but not much. The best target is 137.38 and 136.34.
BBP/JPY and EUR/JPY trades are clear to overbought and much lower than current levels.
