Thursday, May 3, 2018

CLOSER TO A PULLBACK


This Dollar rally has been a right old stubborn old bar~steward.

When I look at USDCHF, still attempting to push higher. The pullback was almost nothing and now we’re going to need a deep Wave b/v. Now, that will be a key. Once we have seen a new high and a deep pullback we shall know that the next rally will be the final high. I can’t confirm with the other pairs like that.

USDJPY may have seen its high. It has certainly seen a deep bearish divergence but this could be a slight trick to see a pullback and THEN the final high…

In EURUSD, we’re close to a low, but one that suggests a deeper pullback (or indeed a deep Wave b of Wave v – as with USDCHF.) At the same time, GBPUSD is rather similar to GBPUSD. We should soon see a low for a pullback either deep or a deep Wave b of Wave v.

At the same time, EURJPY has little room on the downside before a correction higher.

As for the Aussie, it has found its low and should tend to look for the upside…

Good trading
Ian Copsey  






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