Monday, October 1, 2018

BACK TO A MIXED BAG

I initially wanted to write that we “should see Dollar losses.” That’s partly right but there are some – well, two pairs that suggest they still need further Dollar gains. Yes, we could see an early Dollar pullback lower in the Dollar but it’s pretty limited. Therefore, we’re going to have to work through the pairs piecemeal. 

Basically, EURUSD and GBPUSD should see a Dollar pullback. USDJPY will initially make a new high but then suffer quite a deep pullback. USDCHF may see a minor blip higher – or it had found its high and will move back lower…

Strangely, it seems that the Aussie wants to push higher over the day – although there’s a risk of an early pullback. 

Finally, in EURJPY we have barely any room on the upside – but could be seen in the early stages, but once USDJPY suffers its pullback we should see a rather ratcheting, probably messy development with EURUSD expected to push higher while USDJPY does the opposite. It looks like a rather messy outlook in the cross…

Have a profitable week
Ian Copsey  






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