Thursday, April 19, 2018

THIS SHOULD PRODUCE A DOLLAR BEARISH DAY

We’re coming to a point where there is some risk on the Dollar upside but if there is any, it should be limited. Looking through the pairs in general, the major expectation is for a reversal towards the Dollar downside. There’s a fine balance between the two at the start of the day but as we get to the European and North American sessions I suspect we’ll be back on the Dollar bullish road. Initially, there may even be the chance of a triangle/consolidation before the Dollar makes its way back to the upside. 

Can this finish the rally today? I’m not so sure. Maybe - but this market has been rather introverted for some while. It has been used to the Dollar downside over the past year or so and doesn’t seem to want to give up the idea of a stronger Dollar. I’ve clearly been too direct in my approach because I know where the Dollar is going. It has frustrated but before long there will be a stronger switch to the upside and I sense it will begin next week. 

AUDUSD clearly has a super slim margin on the upside but as long as things stand, we should begin to see a deeper round of losses. 

EURJPY? Well, it’ll either push above 132.97 for a minor follow-through and reversal – or it will break below 132.10…

Good trading
Ian Copsey  






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