FX weekly — DXY and 14 currency pair levels and targets

As DXY traded massive overbought over the past 3 and 4 weeks without a correction, AUD/USD and NZD/USD were directed to trade current Richter Scale ov

As DXY traded massive overbought over the past 3 and 4 weeks without a correction, AUD/USD andwere directed to trade current Richter Scale oversold levels. So oversold, no such concept as shorts exist for AUD and NZD as NZD/USD trades oversold from 0.6100, 0.6300, 0.6500's and 0.6800. AUD/USD trades oversold from 0.6600's to 0.7500's.

Not only are AUD and NZD targets easy to achieve but far more upside potential remains for both currencies. and NZD/USD provides further confirmation to overbought wide rangers as GBP/AUD, EUR/AUD, EUR/NZD and GBP/NZD. GBP/JPY averaged 113 pips for the past 5 weeks to USD/JPY at 177 and GBP/NZD at 208. SPX 500 averaged 101 points per month for the past 9 months. Most vital economic announcements this week is not Jackson Hole nor PMI's as both are irrelevant and PMI's are duplicate releases and completed by GDP, CPI, Producer Prices, Imports and Exports. PMI not only doesn't move markets but its a commentary on nothing.

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