Friday, October 13, 2017

Stodgy end to a stodgy week

In general, it almost feels like the market couldn’t give a damn. There’s a lack of purpose in many of the pairs and frankly, this could see the final leg of this week stumble to the losers’ tape without making much of an effort. Of course, there will be one or three pairs that will attempt to push one way or the other but I can’t see much excitement going into the weekend.

USDJPY looks like remaining in a range. EURUSD will most likely see a drop and pullback. USDCHF should make some modest losses and GBPUSD… well, it looks like it has begun to suffer from dementia.

However, AUDUSD may be able to make some decent gains although there is some early risk of a pullback lower before further gains. However, that’s the puzzle that could happen – but overall bullish.

To complete the pairs, EURJPY managed to see the losses I expected. I’d like to see a little more but the balance between USDJPY and EURUSD doesn’t look encouraging and may well end up in a consolidation.

Put your feet up and have a great weekend
Ian Copsey  

No comments:

Post a Comment