Wednesday, October 3, 2018

STUFF THE DOLLAR LOSSES …

I was shocked by the minor Wave (ii)’s or Wave b/iii’s in several pairs. Well, 27% is kinda ok but (if I have the right Wave (ii) in USDCHF it was just 7.4%.) Having said that, particularly in GBPUSD, the massive cycle from the 1930’s, we should begin to see some acceleration lower. Even so, I was quite shocked with the USDCHF percentage. This should retain an underlying Dollar bullish outlook but that doesn’t rule out fairly deep pullbacks during the process. 

As far as I can see today, we should continue on the Dollar bullish path – with the exception of USDJPY. So far we appear to have seen a double zigzag and we need to complete the final 3-legged that should then trigger a reversal higher.

That EURUSD saw the unexpected losses and USDJPY really not trying to push too much on the downside, EURJPY had a strong bearish day. Over the next few months, we should see some decent losses. 

Even the Aussie took the leap of faith on the downside and has seen some decent losses – and there should be more to go. 

Good trading
Ian Copsey  






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