Wednesday, July 11, 2018

FURTHER DOLLAR GAINS

We’re beginning to get some Dollar bullish traction developing. EURUSD has completed its Wave i and, most likely, a Wave ii. There is still some upside to provide a triple three. However, from the other pairs we have USDCHF almost at an extreme pullback and USDJPY that has seen a sudden collapse at the end of the North American session. This tends to suggest that we’re more likely to see direct Dollar gains…

This should see a solid follow-through on the Dollar upside. As this rally progresses, we should eventually reach a point where we have a deeper pullback. This is not going to happen today but I just want to make sure that we don’t get too aggressive. Indeed, the range of pairs has different structures but this should provide a guideline as we move towards the Dollar upside overall. 

At last, EURJPY has finally topped out and along with AUDUSD we should see losses overall.

Thus, focus on bearish reversal indications on any pullback…

Good trading
Ian Copsey  






No comments:

Post a Comment