Thursday, September 6, 2018

EARLY CAUTION FOLLOWED BY DOLLAR GAINS

First of all, while I did some analysis, the amount of development over the week could see some errors. I hope I’ve gotten the structure correct but it will be best to limit position sizes. As far as I can see we may see some initial limited Dollar downside I am looking for the upside still. Basically, that tends to sum up what I am expecting over the rest of the week.

In particular, it’s USDJPY that gave me the more difficult outlook but that also tends to suggest that the other pairs could be the same. At this point we seem to be having to build the foundation waves for the next stronger Dollar bullish move but this will probably see some limited pullbacks at times. Once those foundation waves have been completed we should see a stronger impulsive development. 

In EURJPY, I see that we have confirmed a Wave -i- and may have seen the Wave -ii- but that’s going to need both USDJPY and EURUSD to work it out between them. However, overall, the outcome should be bearish…

Down under, we have seen some decent bearish development. Here we may see a risk of a moderately firmer pullback before the losses resume. We’re going to need to keep an eye on bearish divergences developing to allow the downside to resume…

Good trading
Ian Copsey  






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