Thursday, May 24, 2018

BACK TO THE DOLLAR UPSIDE

Well, perhaps – and most likely – we shall see a pullback in a few pairs – not all – but from what I see, the risk is for some deeper gains in the Dollar. This is going to need some swings but, by gum, it looks like a pretty steady process from here.

I suspect we’ll see USDJPY reach the rough 111.00 area for a pullback, losses in EURUSD for a pullback. A rally in USDCHF that reach towards the 1.0056 high for a pullback and for GBPUSD to an area around 1.3292-58. And this is just the start of the deeper gains in the Dollar…

EURJPY has finally seen some serious losses courtesy of both EURUSD and USDJPY. However, I suspect now that we’ll see the progress a little slower in the cross with both pairs expected to be Dollar bullish.

The Aussie has also formed a decent decline and should soon see a second drop. 

Therefore, overall expectation is for a stronger Dollar but later a pullback.

Good trading
Ian Copsey  







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