Currency markets this week are driven by overbought USD and oversold anchor currencies as EUR/USD, GBP/USD, AUD/USD, NZD/USD. The wide division to overbought USD and oversold anchor currencies renders wide range cross pairs in fairly neutral territory. Wide rangers applies to EUR/CAD and GBP/CAD, EUR/AUD and GBP/AUD. Overbought cross pairs refers to GBP/NZD and EUR/NZD, JPY and CHF cross pairs. USD/CHF remains overbought and targets 0.8963 then 0.8917.
21 then 110.76. USD/JPY opens the week at 151.30 Vs last week at 151.40. Same old overbought story and targets 150.03. USD/CAD long term longs are impossible. USD/CAD long term targets 1.3392 and 1.3302. GBP/USD long term 1.2497, 1.2636, 1.2655, 1.2802, 1.2816, 1.3141, 1.3527. GBP/USD big line break is the 5 year average at 1.2818. For the week, GBP/USD targets highs 1.2600' and low 1.2700;s. EUR/USD big line is the 5 year average is located at 1.1134.