Thursday, December 6, 2018

DOLLAR TO EXTEND HIGHER

Well, we saw the pullback lower in the Dollar as expected – GBPUSD reaching the higher targets I suggested – EURUSD didn’t really require a deep correction. The Swissie managed a sideways move but ready for further gains while USDJPY pushed higher as expected. This should see the Dollar extending higher today…

Even the Aussie triggered a deep decline. However, it developed in a 5-wave decline so we should be looking for a pullback – and that will provide us with a puzzle as to how deep the correction will be.

As expected, having seen a Wave I in EURJPY we have seen a decent rally and may just see a little higher but with EURUSD expected to see losses and USDJPY seeing gains, it tends to suggest a rather limited range today. 

Focus on the majors. This should see a decent push higher in the Dollar.

Good trading
Ian Copsey  






No comments:

Post a Comment