Thursday, January 18, 2018

STILL NEED SWINGS

The Dollar losses have stalled. Long live the bulls.

Given that we have to now form foundation waves, it still implies swings – unless, of course, we see mini-minor, eensy weensy Wave (ii)’s but I can’t see that happening. Of the 4 majors, it’s only GBPUSD that has not managed to break below the hourly Price Equilibrium Clouds – but is threatening. Both USDJPY and EURUSD have even broken through the 4-hour Price Equilibrium Clouds while USDCHF is challenging.

Therefore, it’s only a matter of time before we’ll be able to complete a lower degree Wave [a] in USDJPY, a Wave [i] in EURUSD and a Wave (i) in USDCHF. GBPUSD is still lost in the hedgerows in the British countryside. (Well, it’s worth the scenery…)

Thus, before long we’ll have to see a pullback lower in the Dollar.

I’m now pretty certain that even the Aussie has topped out. It has broken below the hourly Price Equilibrium Cloud but still needs to penetrate the 4-hour Cloud low – but is pushing. Both hourly and 4-hour divergences are pushing their weight.

That just leaves EURJPY that has been enjoying its own swings but needs to break below both the hourly & 4-hour Price Equilibrium Clouds…

Good trading
Ian Copsey  







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