Monday, February 11, 2019

STILL SOME DOLLAR GAINS – BUT A REVERSAL OVER THE DAY

Hmmm… Friday was quite a rough old day. I had thought that EURUSD had completed the downside but clearly, we still need a little a minor follow-through. Indeed, I feel that we have the same situation in USDCHF – perhaps also USDJPY but I’ve been considering the chance it has seen the top. It may be best to wait for a while to make sure that we are seeing the last legs of the Dollar upside to then find the reversal. This should then see a few days – maybe as much as a week – depending on whether we see a double/triple three pullback – or a single zigzag but an overall swing higher. 

As for the fourth major, GBPUSD, it basically took the day off on Friday to wait for the other majors to complete their moves. 

We have a rather juicy hourly bullish divergence in EURJPY. Again, it may just make a minor new low but over the day – and perhaps a few days – we should see a pullback higher. Equally, the Aussie should have completed its decline to see a pullback higher.

Have a profitable week
Ian Copsey  






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