Wednesday, February 28, 2018

LIMITED PULLBACKS AND MORE ON THE DOLLAR UPSIDE

I had a run of a few days that I’d rather forget. Yesterday provided a much better outlook and throughout the main pairs, we still seem to be looking for the Dollar to remain buoyant. Indeed, while we could see some pullbacks, these should be limited and basically, we should see the Dollar to continue in its rally and may well continue through to the weekend.

If there is any pair that could see a deeper pullback (although after initial Dollar gains) it is in GBPUSD. It could tend to work in a rather confined range. What will be the challenge is how deep the pullback will be… Actually, this may also be the case in EURUSD. Therefore, once we get to this stage we’ll have to be alert to how deep the pullback will be…

USDJPY and USDCHF appear quite steady and on the bullish side – along with the Aussie.

It’s just EURJPY that has been developing in a rather circuitous manner but basically bearish. Given the general balance between EURUSD and USDJPY, both being Dollar bullish, it tends to see broad swings but the outcome is still in place.

Good trading
Ian Copsey  








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