The EUR/USD V DXY relationship crossed in 2003 at 101.00's. EUR/USD by July 2008 traded to 1.6000's and DXY achieved lows at 73.00's and 71.00's. DXY
European ester trades 4 points per day and 702 transactions by 33 banks at the 25th and 75th percentiles. Ester will trade monday from 3.93 to 3.89. fed funds trades 14 points per day at the 25th and 99th percentile. Japanese call rates trades roughly 22 points per week at 4.4 points per day to match european ester. The full ranges assumes a full trade day. many days, interest rates move by 1 and barely 2 points. Monday are good examples.
USD/JPY lower is required by a DXY drop. For the week, low 148.00's are blocked and the range for the week trades long 148.00's and short 150.94. GBP/CAD hits a brick wall at 1.6600's and 1.6700's while EUR/CAD's wall at 1.4500 are many and solid. Both EUR/CAD and GBP/CAD trade deeply oversold for the week. EUR/CAD's weekly line is located at 1.4421 and 1.6651 for GBP/CAD. AUD/USD trades oversold for the week and targets the break above 0.6508.
GBP/JPY big line for the week is located 184.11 and 158.80 for EUR/JPY. For the week, we remain short to target the GBP/JPY break at 180.20 and 155.88 for EUR/JPY. GBP/JPY, EUR/JPY and CHF/JPY trade oversold while AUD/JPY and NZD/JPY begin the week at Richter Scale overbought. Most widely traded currencies in order by 138 members: EUR/USD, CHF/JPY, EUR/JPY, USD/JPY, GBP/JPY, CAD/JPY, NZD/JPY, AUD/JPY, ZAR/JPY, TRY/JPY.Not much interest exists to ZAR/JPY and TRY/JPY.
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