Thursday, September 13, 2018

STILL A MIXED BAG

I’ll be glad when EURUSD and GBPUSD have finally completed their moves. It seems that the other 4 pairs are pretty much developing as “normal” in terms of correlation although USDJPY and USDCHF may see a minor blip. USDJPY should be set for gains while USDCHF may still see a slightly deeper loss before these two pairs rally together. 

EURUSD and GBPUSD still need further gains but EURUSD should see a cap earlier than GBPUSD. Indeed, we may see GBPUSD move higher into tomorrow – perhaps even over the weekend into Monday. This tends to suggest that we’re going to continue some rather languid development through today and into early next week.

With USDJPY set to move back higher along with a (limited) rally in EURUSD the outcome should be a higher EURJPY but probably not breach the 130.95 high. Therefore, this could provide a good bearish trigger for what should be some solid losses.

Down under we’ve seen a deeper pullback but, as with EURJPY, there is very little wriggle room below the 0.7191 high. Thus, place stops above that high for some decent losses – once again with what should be some decent losses.

Good trading
Ian Copsey  






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