Wednesday, June 13, 2018

AND THE MARKET CHOSE TO BREAK TO THE DOLLAR UPSIDE

I can’t say it was a marvellous day. However, I wasn’t really expecting a grand rush. Yesterday I mentioned the Price Equilibrium Clouds and looking for a break to the Dollar upside. USDJPY, EURUSD and AUDUSD broke through the Clouds to push higher in the Dollar. USDCHF was rather reticent and basically provided a sideways move but still without breaking below the 4-hour Cloud low. Equally, GBPUSD decided to follow the Swissie’s sideways move. AUDUSD is struggling a bit but should see that it’s lagging and I’m pretty certain that it’ll break below both hourly & 4-hour Clouds. 

Basically, the outcome should be Dollar bullish again today but will have some initial swings – not really a surprise in the Asian centre. By the European session the Dollar upside risk will grow and push into the North American session. 

If possible, just ride the Asian session and look for decent signs of any pullback to buy into. I suspect by the end of the day that we’ll be looking a little more bullish…

Good trading
Ian Copsey  






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