Thursday, August 22, 2019


We have seen some sluggish development, mostly due to the initial (Dollar) bullish foundation waves and this should now see (I hope) stronger losses in EURUSD and GBPUSD and gains in USDCHF. Still, we should take this step by step… 

Yesterday’s development in USDJPY provided the (brown) Wave i and Wave ii. Of course, it’s rather strange to see this pair moving down with EURUSD and GBPUSD… but it’s clear that we shall see losses. 

Clearly, with both EURUSD and USDJPY moving lower side by side, we should see some decent losses in EURJPY. This is going to be a difficult to find the Wave c/iii with these two pairs side by side…

I’m now beginning to think that we have seen the Aussie high and more likely to push back below the current low…

Good trading
Ian Copsey

Wednesday, August 21, 2019


I do get very frustrated when I know where targets are going to develop but have to wait for the Wave i and Wave ii, particularly in the instance where it was long sideways move or expanded flat. Well, I think we are coming out of the Wave i and Wave ii to see strong Dollar gains. 

Of course, we still have USDJPY ready and waiting for losses, but also EURUSD and GBPUSD but the questions is, how quickly the decline develops… However, that being said, we shall see these losses.

USDCHF managed an expanded flat so it now has to move back higher to once it was … but now we can get on with further gains. The only issue is that it could be quite slow… but let’s hope it’s a stronger move.

With the combination of a bearish USDJPY and also EURUSD, the cross is going to see some decent losses… probably the best profit potential over the day…

The Aussie… Oh, do I have to say the same things again? It is so boring to see a 4-day sideways move… Let’s get on with it… but which way?

Good trading
Ian Copsey

Tuesday, August 20, 2019


Blimey crikey… what a mess… Yesterday was a rough sideways move, much to my disgust. What’s more, I’m beginning to see another “strange” day. 

I fancy a pullback in EURUSD before we see further losses… However, GBPUSD has only a limited upside although I’d much prefer direct losses. At least, we need to allow for both alternatives. 

Coming to USDJPY, the (cyan) Wave b/iii recorded a 92% retracement. There ain’t any room on the upside! Therefore, we should be seeing losses… at last…

So, between EURUSD and USDJPY we shall need to see whether it will form a triangle or just direct losses. 

The Aussie, still inebriated, looks like seeing gains… That is my preference as I have mentioned several times. However, it may be best to wait to see a break above the current top…

Good trading
Ian Copsey

Monday, August 19, 2019


Having EURUSD and, in particular, GBPUSD that saw a new pullback of 90%, we have very little wriggle room on the upside. Hence, I suspect we are going to see some decent losses. 

Then I took a look at the weekly decline in USDJPY, particularly because it had seen a new low last week that moved to a new low that could imply that we have seen the final low. Clearly, within a weekly development I looked at the major swings. I have just taken the time to see if there was an alternative and it actually worked quite well… I would suggest taking care. Basically, if we just see gains in USDJPY, I’d suggest that we have seen the low.

My only problem is in USDCHF. This has been a difficult development and I have some doubts. Perhaps the minor pullback at the end of Friday was just that and could see gains. However, this pair will need to make its own way.

If USDJPY has seen the final low, then we’re going to see some consolidation or more limited losses. There is also the risk of an expanded flat although I tend to doubt, but I suggest caution here also.

The Aussie… Oh! The Aussie, walking in the Outback and getting lost… Will it rally to a new high to reach towards a new high; or, will it now join the brat packs and make its way to a new low…?

Have a profitable week

Ian Copsey

Friday, August 16, 2019


I noted that in USDJPY that it saw a low at 105.07, that was 11 points below daily (cyan) (a)/(b). However, as far as I can see, we haven’t seen the (brown) Wave iii… I’d like to think that we can see that drop, pullback and drop but the final low is going to be quite difficult to establish in terms of targets…

Both EURUSD and GBPUSD, while there could be a minor new high, over the day we should be heading lower over the day and into next week. As long as 0.9798 breaks higher in USDCHF, then that will begin to see further gains. However, I really couldn’t make much sense of the rally. Best take care. The alternative will be an expanded flat back…

With EURUSD and USDJPY both likely to see losses, we should see some decent losses…

And what of the old cobbler dahn under, it has seen a pullback. It hasn’t broken above the 0.6821 high just yet, but it seems to have the potential. The alternative is a break below 0.6735…

Have a great weekend

Ian Copsey

Thursday, August 15, 2019


To be honest, we’re basically still on the main outlooks. I have finally resolved the puzzle in EURUSD. This will see a dip, pullback and further losses over the day. GBPUSD woke up after midnight and saw the darkness, so it decided to go to sleep. Will it see a pullback as I had assumed a few days ago, or will it just see losses? Well, perhaps with EURUSD looking to see a pullback, there is a chance that GBPUSD will mimic the idea… Once we have confirmed losses in GBPUSD I’ll be relieved…

When it came to USDCHF, well, it didn’t really do very much at all. So, we’re pretty much sitting in the middle of a consolidation and we have to toss a coin… Or perhaps, with USDJPY back on the downside towards the targets I had been looking for.

EURJPY provided the roller coaster. We should a see a limited pullback and then further losses and then we can look for the Wave iii and Wave iv … and Wave v … Once that has been seen, a pullback will be in place.

The Aussie… oh dear… The old amber nectar has been in play. Down a bit, up a bit and down a bit. I’d still prefer to see a new high but at this stage I’d rather wait for the break…

Good trading
Ian Copsey

Wednesday, August 14, 2019


Yesterday was not quite as I had expected. 

Let’s start with EURUSD. I have been battling with a potential triangle, but it doesn’t seem to have been a triangle. I would call it a “mess”. I have come to the point where I feel we may see a new high – but below 1.1266. Over the day, we should see losses in this pair. It will be best to remain neutral until we finally get back to the Dollar upside.

USDJPY… I’ve had to make a slight adjustment and we should be looking for losses over the day – and that’s definitely required. Whether it gets below the Wave iii, I’m not so sure. It seems that USDJPY and USDCHF appear to be buddies and both should see losses. Whether it will get below 0.9659 is something to consider. If it does, then we’ll need another final zigzag lower.

GBPUSD hasn’t found the highs I had thought. I’d prefer to see a deeper pullback, but the alternative is deeper losses – that’s going to be interesting…

Down under, we’re still battling between a new high or a direct decline to new lows… It’s tiresome, but we’ll have to bear up…

I’ve provided the potential for an expanded flat, but frankly with USDJPY moving lower again, I suspect we’ll be looking to the downside. The only puzzle is in EURUSD. Will it see a new high or, direct losses…

Good trading
Ian Copsey