Monday, September 10, 2018

SENSING COMPLICATIONS

This past week has seen some slow, soporific and downright boring development. What’s more, I’m coming to the conclusion that we may see more of the same. In EURUSD, I have been looking for a follow-through lower within a rather weird Wave c/i but I’m beginning to consider a complex correction. At the same time, GBPUSD appears to need losses although there is some space above that could be seen first. 

Equally, there appears to be a risk of losses in USDCHF and I’d rather like to see what happens in USDJPY – there may be a risk of overlaps in the development that could take the Dollar lower. AUDUSD requires a pullback – perhaps similarly to GBPUSD could see – before any further losses. 

I really feel that we need to take things carefully until there is a stronger breakout that will trigger a more directional move – and ideally Dollar bullish. Therefore, use a smaller trade size until a stronger break is seen.

Finally in EURJPY, if my outlook is correct, it looks as if we may see a whippy day but with a relatively narrow range.

Have a profitable week
Ian Copsey  







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