Shuaib Chowdhary, Macro Strategist at Deutsche Bank, describes that trendiness in G10 Forex is picking up sharply, with aggregate VHF at the 69th percentile.
“Aggregate understood vol has also picked up signiﬁcantly and is now at the 87th percentile. AUD/USD is extremely trending to the topside with VHF at the 82nd percentile. The pair is not stretched on RSI metrics and has a sleek price action on a understood volatility viewpoint. USD/JPY is our prime trending pair. It is breaking new ground to the draw back with both of those VHF and newgroundiness measures over the 85th percentile. The pair is the most stretched forex, with RSI and risk reversals both of those underneath the 15th percentile.”
“NZD/USD is moderately trending, not at all stretched and is the smoothest forex pair. USD/CAD and USD/CHF are moderately trending, the least stretched and have a sleek price action as for every understood vol. GBP/USD has exhibited minimal momentum with VHF at 7th percentile.”
- USD/IDR tops our complex scorecard. The pair is moderately trending and is breaking new ground to the topside with the newgroundiness measure at the 96th percentile. It is not at all stretched as for every both of those RSI and risk reversal (RR) metrics and has a sleek price action as calculated by understood volatility metrics. USD/ CLP is extremely trending with VHF at 94th percentile and breaking new ground (76th percentile) to the draw back. Nevertheless, the pair is extremely stretched with RSI at the 5th percentile.
- USD/PHP is also extremely trending with VHF at 97th percentile, not quite stretched and has a sleek price action. USD/HUF is moderately trending and breaking new ground. Nevertheless, the pair is extremely stretched from RSI and RR issue of check out. USD/BRL and USD/CZK technicals have deteriorated as the currencies are exhibiting minimal momentum with both of those the trendiness measures underneath the 20th percentile.”