Friday, February 1, 2019


The Dollar market remained soft for quite some time during the day but we should now have turned back to the Dollar upside. We have a varying range of development but very much in the early stages of what should later be a strong move higher in the Dollar. Of course, it will need swings but this month does seem to have the sense of a stronger Dollar overall. What with the bitching in Parliament and the total bedlam, this looks like a 1920’s farce. 

So we’re still in the lower degree development that should build up over time. However, once we have reached the higher degree development we should see a stronger structure develop.  Today will be one that will see limited 5-wave moves to build the higher. 

For now, we can look to the Dollar upside although the start of the day – particularly in the Asian centre that tends to normally remain cautious and accepts the pullbacks. Equally, down under, the Aussie has found a high and should be heading lower. 

As for the EURJPY cross, I was surprised by the losses – just a stronger decline in USDJPY forging the way. To see it move more strongly lower it will need a more active EURUSD… 

Have a great weekend
Ian Copsey  

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