Wednesday, September 20, 2017

Err… More of the more of the same...

Well, that was a pretty lacklustre, dull, boring and Zzzz day but basically with expectations delivered. I wouldn’t be surprised to see a carbon copy of yesterday’s developments but I suspect more on the Dollar upside. This appears to be a general consolidation but once complete should deliver a stronger outcome. Most likely, I feel that we may get final resolution of the recent trend by the end of this week – maybe into next.

Obviously, with such a tedious day and the prospect of another, it’s really hard to provide any standout information. Frankly, it looks just a period of a workmanlike slumber and that could cause enough choppiness that it may be best to stay clear until the extremes of the corrections are seen.

One pair actually made a genuine attempt to make a difference – and that’s the Aussie. However, this pair is a tricky and mischievous currency, feigning a trend but then standing back to have a sip of the amber nectar. Even here we need to be patient to spot the breakout that will send it in one direction – at last…

As for EURJPY, with the sleepy EURUSD and even sleepier USDJPY, we still have risks on either side of the market but if I have my way, then it’ll be lower first and then extend the upside…

Stay alert – although that could be difficult…

Good trading
Ian Copsey  







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