Monday, April 30, 2018

A SLOW START TO THE DAY

We’ve seen some pretty steady Dollar gains over the past two weeks. For the first few days of this week, we look like seeing some whippy development. I suspect that we’ll see some minor gains in the Dollar as the week begins but, at some point, we’re going to need a pause in the Dollar gains. It suggests a modest correction but one that may take a day or three to develop – I suspect. Perhaps we’ll need to cope with consolidation from time to time.

Certainly, USDJPY has topped out for now along with USDCHF. That doesn’t mean we can’t see a correction higher early on. The sudden losses in GBPUSD over Friday were rather unexpected but only sets the Pound up for a correction higher – but as mentioned above, this shouldn’t be too deep. However, EURUSD looks like losses and a pullback. 

I rather suspect that the Aussie needs to follow the EURUSD template while EURJPY may have a choppy start but over the coming days it looks like seeing a correction higher.

So, through the majors, there are some differing developments as the week begins but overall it tends to lend to short-term trading rather than a trend this week.

Have a profitable week
Ian Copsey  






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