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February Ranges and Targets: GBP/USD, USD/JPY and AUD/USD

By Brian TwomeyCurrenciesFeb 01, 2023 06:11AM ET

www.investing.com/analysis/february-ranges-and-targets-gbpusd-usdjpy-and-audusd-200634905

By Brian Twomey | Feb 01, 2023 06:11AM ET

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EUR/USD

+0.03%

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GBP/USD

+0.04%

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USD/JPY

-0.00%

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AUD/USD

+0.05%

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AXJO

+1.02%

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DXY

-0.46%

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XAU/AUD

+0.41%

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GBP/USD trades 1.2121 to 1.2583. The break of 1.2583 coincides to DXY 99.00’s. DXY must break lower for GBP 1.2583 to break higher. For February, GBP/USD 1.2500’s many and massive. Plus, GBP/USD becomes overbought at 1.2500’s. DXY hold at 99.00’s, then the range becomes 99.00 and 100.50 to 103.00’s or a 300 ish pip range.

Failure to break 1.2500’s means shorts all month at 1.2400’s. GBP/USD provides solid supports at 1.2100’s as many averages exist at 1.2100’s. The bottom averages are rising and fairly quickly. Bottom average rises are positive to GBP for the eventual 1.2500 break. Overall strategy is short 1.2400’s and long 1.2200’s.

EUR/USD for the month of February since 1999 traded 13 down months to 9 months higher. Since 2008, EUR/USD traded 4 months higher to 9 months down. Historically, February is a fairly light and range trade month. EUR/USD big break is located at 1.0903. Higher targets 1.0998 and lower 1.0803, 1.0770.

USD/JPY traded 125.03 to 133.62. Note USD/JPY 125.03 and GBP/USD 1.2583. GBP/USD break higher above 1.2583 t, hen USD/JPY breaks 125.03 and trades much lower to 123.00’s then 122.00’s.

USD/JPY vital supports for the month of February are located at 126.00’s. USD/JPY at 133.62 must hold for shorts to continue. The eventual path to 133.00’s is to travel next to 132.00’s. If 133.00’s breaks on a fluke t, USDPY can easily add to 135.00s and 136.00s ear the month of February.

AUD/USD trades 0.6998 to 0.7140 and the same location for the past 2 weeks. Below, 0.6998 targets 0.6911. Above 0.7140 targets 0.7172. AUD/USD for February can easily trade to 0.7200’s at the 0.7255 target. AUD/USD must hold 0.7140 and 0.6998. AUD/USD is the more favorable currency to EUR/USD and GBP/USD as AUD has a great ability to trade wide and free.

AUD/USD above 0.7140 maintain a range from 0.7140 to 0.7384 and a long drop strategy.

FED Funds, Yield Curve

Whatever Powell and the Fed decides on this day, the final determination is located inside the day trade and longer term ranges and targets. We should see a minimum 50 pip move and maa maximum at 100. The FED is most vital because DXY affects every market price on the planet.

Yield Curve and Fed Funds

Fed Funds Rate Averages from 26 to 31 years. Not oversold or Overbought

Range: 1.69 to 6.95 and 6.98
Mid 4.32, Current 4.33
Yield Curve Average 4.26
Range 3.84 – 4.68
25 Point raise =4.45
50 = 4.68 or the top of the Yield Curve exactly

AUD/USD and RBA

The RBA raised 25 Points on December 6. AUDUSD traded 63 pips for the day and 30 pips on the announcement. ASX 200 traded 53 Points for the day while AUD/Gold as XAUAUD traded 23 points.

Currency Price dictates all financial Instruments. Stocks, Gold, Silver w won’t ever trade more than a Currency price.

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	Interest Rates	Next Meeting
FED	5.00%	May 03, 2023
ECB	3.50%	May 04, 2023
BOE	4.25%	May 11, 2023
SNB	1.50%	Jun 22, 2023
RBA	3.60%	Apr 04, 2023
BOC	4.50%	Apr 12, 2023
RBNZ	4.75%	May 24, 2023
BOJ	-0.10%	Apr 28, 2023
CBR	7.50%	Apr 28, 2023
RBI	6.50%	Apr 03, 2023
PBOC	3.65%
BCB	13.75%	May 03, 2023

February Ranges and Targets: GBP/USD, USD/JPY and AUD/USD

FED Funds, Yield Curve

Yield Curve and Fed Funds

AUD/USD and RBA

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