Monday, February 26, 2018

NOW WE SHOULD SEE THAT FIRM DAY

Limp, listless and lacklustre… Really, it needn’t have been that way but clearly the market had no interest going into the weekend. So, the comments I made on Friday are now applicable. Friday saw an expanded flat in AUDUSD to complete the day while GBPUSD managed an incredible quirky triple three that required me to look into the 5-tick bar timeframe to work everything out.

EURUSD and USDCHF never turned up to do any work – unless sheer boredom of a shallow consolidation that could actually be considered as being constructive. Slackers! As for USDJPY, it looked like it had been drinking all day long meandering in a sideways move. I even suspect this may continue in the early hours of this week.

EURJPY? Well, it did what it had to – edging lower and lower – but that was the expectation. Indeed, while there is some upside that could be explored, frankly it still needs losses. So that brings me back to AUDUSD that is completing an expanded flat.

This should now see a Dollar bullish day.

Have a profitable week
Ian Copsey  







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