Monday, September 24, 2018

FRIDAY'S FORECASTS FOR USDJPY AND AUDUSD




TARGET MET AT 112.88 (From the 18th September)



TARGET MET AT 0.7304











AT LAST…

The past week was rather rough, mostly in EURUSD and GBPUSD and should now be looking towards the Dollar upside. However, the entire range of pairs are still rather haphazard. Both USDJPY and EURUSD topped out within an hour of each other – and that should see EURJPY see some decent losses. It won’t last for a long because USDJPY is just seeing a pullback lower while EURUSD should continue losses for a follow-through lower. 

For today, Cable still has losses to go – but not as deeply in EURUSD. At the same time, USDCHF appears to need a new low before it can finally begin to see a more bullish outlook. This does really provide a correlated market at this point. From that point of view, it tends to suggest a rather staccato range of development through the pairs. At some point, it will begin to generate a more concerted bullish move but we’re going to need to follow the individual pairs before they later converge into a correlated Dollar bullish move.

Certainly, AUDUSD has topped out and therefore we should see losses. Of course, at this stage, we will be looking at the initial foundation waves and therefore maintain a general, correlated Dollar bearish move throughout the pairs…

Have a profitable week
Ian Copsey  



FRACTAL FORECASTING – A COMPREHENSIVE GUIDE TO FORECASTING



Friday, September 21, 2018

GRUESOME

Corrections can be pretty hairy. Certainly, from the EURUSD and GBPUSD lows I hadn’t been able to resolve the pullback. Yesterday’s follow-through higher in both pairs – even USDCHF on the downside – were not on my radar. Most of this is down to the lower degrees that can see winding moves that are impossible to judge due to the 1-minute development – and that takes far too much time to work them out. By the time I’d completed them, I’d be a day behind. 

However… GBPUSD has only 65 points from the daily (cyan) Wave (b). In EURUSD we have 96 points from the daily (brown) Wave -b-/-iii-… Most likely we have seen the top – or a margin above. It’s GBPUSD that has been providing the complications. I suspect one of two alternatives: that we have seen the final high – or we’ll see a deep pullback and a second rally that break above 1.3298 but then seeing a reversal lower.

USDJPY still needs further gains. USDCHF is expected to see limited losses. 

Having said that we have either seen the high in EURUSD – or a margin above – and the need for gains in USDJPY, it does suggest that EURUSD must provide the downside because we have barely any room on the upside in EURJPY. 

Equally, AUDUSD has seen a deep, deep pullback and also barely any room on the upside. 

Have a great weekend
Ian Copsey  






Thursday, September 20, 2018

YESTERDAY'S FORECAST FOR GBPUSD AND EURJPY



TARGET MET AT 1.3214



TARGET MET AT 131.68




STILL SOME BITS AND PIECES TO BE FINALISED

OK… GBPUSD has topped out. EURUSD appears to need a new high – along with AUDUSD. USDCHF has found its low. USDJPY, having been the leader of the bull pack, is coming to a high. What a ragged set of pairs that can’t generate any correlation…

Shame on them!

Ok, that’s a bit harsh but it has been a rather strange development over the past few weeks particularly with EURUSD, GBPUSD and USDJPY all pushing higher together. With the exception (in the near term) that EURUSD will see a final minor new high, we should all majors working together. However, I suspect this will only find a quorum after the weekend – and that tends to suggest some consolidation/foundation wave building before any strong moves. Therefore, keep trades tight for the moment until all pairs are developing together.

Even AUDUSD still seems to have further gains to be seen but once the high been established we shall begin to see losses resume. 

Finally, I sense we have seen the final high in EURJPY. Thus, we should be looking for losses…

Good trading
Ian Copsey  






Wednesday, September 19, 2018

STILL SOME REMNANTS LEFT

I’ve been a bit frustrated the past few days looking for the final highs in EURUSD and GBPUSD. I am certain that we shall see Dollar gains but a sudden twist develops. I am also aware that, in these two pairs, we’re getting closer to break levels. EURUSD needs to complete a 3-wave rally that should hold below 1.1851 high and GBPUSD shall either see direct losses – but then a second rally - or if it goes directly higher then there’s a chance of seeing a high an earlier high.

Meanwhile, USDJPY has maintained its bullish outlook but does seem to be approaching a high for a pullback. With these pairs seeing some broad swings, USDCHF has seen a pullback higher but will then need another new low. However, once that final low is seen, it should turn higher – and for quite a rally.

EURJPY has been a persistent bull but there are pretty decent hourly and 4-hour bearish divergences. Therefore, something’s got to break at some point – and that should be lower.

Down under the Aussie has approached the Wave (b) high. We shall either see a break higher – or (obviously) a reversal lower. Even if we see the break higher it won’t last long so best keep watching for bearish reversal indications.

Good trading
Ian Copsey