Friday, September 7, 2018

MORE SOMNAMBULANT DEVELOPMENT?

Having just come back from the other side of the world and trying to cope with the jet lag, it seems the market has followed my sleep patterns. EURUSD and GBPUSD definitely had day off and I suspect we may see yet another. Whether the market can generate the strength to finally see a more definite trend today is possible but the way things are going, it may only be towards the end of the day…

The other pairing of the majors, USDJPY and USDCHF, are now completing a deep pullback. Once that is done, we’re going to need to form the bullish foundation waves – and that will likely limit the range once again. It’s hardly likely that we’re going to see some decent trends – or only towards the end of the day. 

Perhaps we’ll see a similar development as described above in EURJPY. Yes, it did manage a decent decline but we’re now coming towards a low for a pullback. Yes, once again we have the potential for a rather limited range day…

Yesterday was quite a sleepy old day, in the bottom right of the planet. It seems that we could see a deeper pullback higher now. 

Once all these sleeping tablets begin to dissolve, we should see some decent Dollar gains but we may have to wait until after the weekend…

Have a great weekend
Ian Copsey  






No comments:

Post a Comment