Thursday, August 9, 2018

FRUSTRATED BUT STILL LOOK FOR DOLLAR GAINS

Oh, how I hate slow markets. When you know that there must be a follow-through within an impulsive development and know where the potential target can be, it’s really tough when the market just fannies around because they have no clue…

In the meantime, we’re just messing around within limited ranges before the market realises that we’re still currently in a Dollar bullish development. I wouldn’t like to see USDCHF break below 0.9921 but if it does, it’ll turn back higher (expanded flat). EURUSD has potential for a final zigzag but I’d prefer direct losses. I’m slightly mixed in USDJPY. Either it should just rally – or as with the pairs I’ve mentioned there may be a minor new low – but would be the final low.

The Aussie is toying with a minor new high. It’s not set in stone but possible – but again, the final outcome will be bearish.

GBPUSD – may risk a complex correction but overall will reach 1.2818.

Basically, allowing for those possible minor blips, we should end the day on the bullish side.

Good trading
Ian Copsey  







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