Monday, April 23, 2018

LIMITED FOLLOW-THROUGH AND CORRECTION

Having seen some decent Dollar gains, we are now close to a reversal. As a broad guide, it initially suggests further Dollar gains, potentially some lower degree swings and later a reversal. Therefore, by the end of today (perhaps tomorrow) we’re more likely to be seeing the Dollar making a move upside. We’re already beginning to see the early stages of Dollar bearish divergences and that suggests that by late Asian/and into the European trading we will likely be developing the follow-through higher in the Dollar and then the reversal. As a simpler guide basically this suggests broad swings.

EURJPY made some decent losses also. We can begin to look for a pullback higher and later for a reversal. The only possible detour would be through a sideways consolidation considering that EURUSD and USDJPY are likely to have similar development – just opposites.

As for the Aussie, most likely it’ll be a bearish day except that there is initial upside risk first. 

Have a profitable week
Ian Copsey  






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