Thursday, April 26, 2018

A REVERSAL BACK TO THE DOLLAR DOWNSIDE

I had hoped we had seen the Dollar highs yesterday but it managed to last a little longer. We are now very, very close to a reversal that will turn on a half a hair’s breadth. To give an idea, we shall be seeing a Wave (i) in USDJPY and EURUSD. Cable has been a bit tardy but will complete a Wave (a) and USDCHF… well, it has been running ahead of all the other three for some time but will need a modest pullback. 

As for the only other Dollar-currency pair I work with - that’s AUDUSD – it is going to turn back to the upside just in time to hold above the 0.7501 low. 

The outcome will be a corrective development. These can be horribly difficult to work with but out of all the pairs we should be looking for USDCHF to guide the way because of its alternative structure in a Wave iv. This may well provide the timing of the reversal for all pairs. 

As for EURJPY… now there’s a puzzle but I suspect USDJPY will be weaker than EURUSD but let’s see…

Good trading
Ian Copsey  






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