Tuesday, August 13, 2019

STILL SLOW GOING…

We have seen some slow, Dollar losses in USDJPY and that should continue. At the same time, we appear to be seeing complex triangle in EURUSD that should see a dip and a pullback before we can get on with the process of seeing deeper losses. Strangely, if I have this correct, USDCHF should move in parallel with USDJPY to see losses. Most likely this will develop in slow motion…

The good old GBPUSD (God Bless Her Majesty) still needs a deeper pullback. That actually is quite appropriate since EURUSD will need a pullback as mentioned above. So once these two pairs find their highs, we can get on with losses…

As for the Aussie, gee, this is in neutral territory. Will it break to new lows – or – new highs… If I have my way, I’d like to see a new high to form a bearish divergence. That should then see losses. However, we have the alternative of a direct break below 0.6677… This pair needs to be cautious…

EURJPY… I’m torn between just direct losses, as long as USDJPY provides the downside but the other side is that EURUSD will need a pullback. 

Puzzles, puzzles, puzzles…

Good trading
Ian Copsey

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