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FX Weekly: EUR/USD, DXY, GBP, JPY Trading Opportunities

By Brian TwomeyCurrenciesSep 11, 2022 07:19AM ET

www.investing.com/analysis/fx-weekly-eurusd-dxy-gbp-jpy-trading-opportunities-200629653

By Brian Twomey | Sep 11, 2022 07:19AM ET

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Severely overbought JPY cross pairs begin the week. USD/JPY adds to the overbought ranks due to DXY trading near 40 and 50-year monthly averages.

The DXY venture began 16 months ago at 89.00 lows in May 2021 to travel to 110.00 highs. In 16 months, 12 monthly candles were solid green, and one Doji at the vital 95.00 MA.

DXY supports are located next at 107.74, 106.20, 104.56, 103.74, 102.92, 102.66, 102.28, 101.36 and 100. DXY 109.59 becomes vital to trade higher to 110.00 and 111.00’s.

Overall, DXY still trades in 100, and 200 pip ranges to inform currency market price moves won’t see violent up and down swings. DXY traveled higher from 89.00’s by 125 pips per month, which is expected long into the future.

Best trades for profits are EUR/USD and USD/JPY as EUR/USD trades massive oversold Vs. richter scale overbought to USD/JPY. The best cross pairs are EUR currencies and JPY.

Overbought JPY cross pairs this week are expected about 200 pips lower. Trade order begins as GBP/JPY and EUR/JPY then CAD/JPY, AUD/JPY and NZD/JPY. JPY cross pair trades represent corrections from deep overbought until GBP/JPY breaks 162.63 and EUR/JPY 138.81.

Currency markets radically change the trend when USD/JPY breaks below 136.00’s and EUR/USD above 1.0200’s.

GBP Trade Ranking

GBP/USD, GBP/JPY, GBP/AUD, GBP/CAD, GBP/CHF, GBP/NZD. All GBP currencies begin the week deeply oversold to, include GBP/NZD.

The GBP/NZD oversold problem is EUR/NZD trades massively overbought. EUR/NZD for past weeks been trading 100 and 150 pip days. EUR/NZD should trade easily double 100 and 150.

Trade Rankings

EUR/USD, EUR/JPY, USD/JPY, AUD/JPY, CAD/JPY, NZD/JPY, CAD/CHF, EUR/NZD, EUR/CAD, NZD/USD, AUD/USD, AUD/CHF, NZD/CHF, USD/CAD, EUR/AUD.

EUR/USD targets 1.0140 while short to USD/JPY and JPY cross pairs. Oversold NZD/CHF will lead NZD/USD higher. EUR/AUD higher matches oversold GBP/AUD. Watch EUR/AUD 1.4748 for trade much higher.

EM Currencies

DXY at 40 and 50-year averages most affected USD/EM to trade to overbought tops. Best shorts are located in USD/BGN, USD/DKK, USD/HUF, USD/TRY.

USD/BRL and USD/ZAR are working off overbought and heading to neutrality. Brazil and South Africa are members of the BRIC alliance (Brazil, Russia, India, and China).

Comments (2)

How Much Lower Can EUR/USD, GBP/USD Go in Light of Powell's Hawkish... By Günay Caymaz - Sep 22, 2023 2

US dollar continues to strengthen on Fed's hawkish stance EUR/USD could continue to head lower on the back of weak data from Eurozone Meanwhile, GBP/USD is now edging closer to...

Canadian Dollar Edges Higher as Retail Sales Rebound By Kenny Fisher - Sep 22, 2023

Canada retail sales climb 2% The Canadian dollar has posted losses on Friday. In the European session, USD/CAD is trading at 1.3446, down 0.28%.Canada’s Retail Sales...

Week Ahead – US core PCE and Eurozone flash CPIs eyed after rate pause... By Trading Point - Sep 22, 2023

PCE inflation to grab attention on Friday as Fed signals higher for longerBut markets might be more worried about a government shutdown Eurozone flash CPIs will also be the in the...

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Comments (2)

oluwasheyi oladele Sep 15, 2022 1:10AM ET

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this was a great article,if I had now this earlier I would have done better with eurjpy pair...pls more articles like this weekly to prepare us ahead of the trades for the week.kudos bro..

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Hakim Damian Sep 12, 2022 9:08AM ET

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Article was helpful, More Article Sir

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FX Weekly: EUR/USD, DXY, GBP, JPY Trading Opportunities

GBP Trade Ranking

Trade Rankings

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