Wednesday, April 25, 2018

A BIT OF A MIX…

Overall, the main direction should have switched back to the Dollar downside. However, I have doubts in GBPUSD – I suspect a new corrective low and recovery – and that may be valid for AUDUSD also. The latter is rather touch and go. Both USDJPY and USDCHF should have found their current highs and while a pullback is likely, by the end of the day we should be looking for a lower Dollar. At the same time, EURUSD should be heading higher. 

With the general mix, overall, I’m tending towards a rather rough and tumble day and should GBPUSD make a new low, then it would then tend to suggest that we’ll begin to see all pairs running at the same time.

Another comment on AUDUSD: I actually have this as a daily low and for a rally back above 0.8135. I can see some gains rather like EURUSD and (later) GBPUSD, but I really wonder whether it will suddenly take off like a madman… However, just for the moment, it should take a trip along with EURUSD and maybe later GBPUSD.

EURJPY… now there’s a puzzle too. I have found a potential solution to suggest we have seen a high. I have some concerns. However, with EURUSD expecting gains and vice versa in USDJPY, it doesn’t look like it will get very far at all… Most likely USDJPY will see deeper losses compared to EURUSD…

Good trading
Ian Copsey  







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