FX Next: EUR/USD's 1.001 Target Achieved

www.investing.com/analysis/fx-next-eurusds-1001-target-achieved-200634952

By Brian Twomey | Feb 02, 2023 06:08AM ET

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EUR/USD

-0.54%

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GBP/USD

-0.39%

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USD/JPY

+0.08%

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AUD/USD

-0.31%

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EUR/JPY

-0.47%

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GBP/JPY

-0.32%

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EUR/AUD

-0.14%

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EUR/CAD

-0.58%

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GBP/AUD

+0.02%

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EUR/USD target at 1.1001 achieved yesterday. As written November 11, when EUR/USD traded 1.0200’s, Long term targets were 1.0592, 1.0798, and final at 1.0967. The target at 1.0967 was since adjusted to 1.1001 by model dictates. The model requires a re-check to target at about every 500 pips of movements.

As seen here, the difference to targets since November was 35 pips, yet not a waste of time. My entire structure over the past 12 and 15 years was to hit any target perfectly and construct MA models to ensure targets achieve destinations. Obviously t, the program became a huge success.

Yesterday’s target at 1.0998 from 1.0903 was achieved also. EUR/USD traded to 1.1032 highs and six sixties shy of the next big break at 1.1038.

As a trade begins at entry and ends at target, trade requirements click for entry and exit, then walk away as stops, charts, and the latest market talk is totally irrelevant. CI could'vetaken the long from November lows at 1.0200;s and waited for the target to complete.

EUR/USD now trades the range from 1.0909 to 1.1133 and the next big levels at 1.0994, 1.1036, 1.1079 a, nd exactly 1.1100. EUR/USD must decide to break 1.1133 to trade the next 200 pip range from 1.1133 to 1.1344 or 1.0705 to 1.0909 t, hen 1.0625 to 1.0705.

Not only is EUR/USD approaching do or die at 1.1133, but higher EUR/USD will see a slowdown to prices on the path to 1.1133. EUR/USD will either break 1.1133 and skyrocket or experience a deep drop as required by the principles of moving averages.

EUR/USD is deeply overbought from 1.0625 and 1.0705. Next week shorts target easily 1.0891 and again the bottom at 1.0824. Oversold USD/JPY targets next week easily 129.65 and 130.11.

GBP/USD’s target remains 1.2750 on a break of 1.2586. GBP/USD then enters the range from 1.2586 to 1.2895 from the current 1.2128 to 1.2586 at 458 pips.

AUD/USD remains 0.6998 to 0.7140. Higher targets are 0.7179 and 0.6924, on a break of 0.6998. Overall, AUD trades deeply overbought from 0.6800s.

DXY is the driver to markets and currency prices. DXY yesterday traded to 100.82 and 32 pips short of the next big level at 100.50.

EUR/AUD 1.5402 decides its fate for higher or lower. Massive oversold GBP/AUD back to 1.7520 on breaks of 1.7268, 1.7331, 1.7394, 1.7457.

GBP/JPY 156.34 to 161.62, and no change this week. EUR/JPY 135.00’s to 141.55. Shorts located at low 142.00’s.

EUR/CAD achieved 1.4641 highs yesterday. Middle 1.4400s remain big breaks to target 1.4600s and 1.4700s or 1.4200.

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humanfallibility Feb 04, 2023 12:19AM ET

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Central Banks

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

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FX Next: EUR/USD's 1.001 Target Achieved

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