Thursday, March 22, 2018

WHIPLASH

All looked to be developing well although some complications began to creep in. I had expected a pullback but by the end of the day, we had the FED mumbling something about something or other. To make this short and simple, basically, it has forced a few pairs to submit to an expanded flat. It’s not across all the pairs but with others seeing deeper pullbacks. It’s not quite complete and we should see the final legs over the course of the day. The basic template is a pullback and follow-through…

Then we can get back to the Dollar upside.

Even the Aussie managed the pullback – but that was always on the cards. It’s just that sometimes it can do a solo but in this case, it allowed the others to absorb the rate decision.

That left EURJPY pretty much as I had expected – a pullback higher and should now see losses develop once more.

Good trading
Ian Copsey  







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