Rabu, 25 Oktober 2017

Potential Complications

I’m slightly concerned. It’s not that I have any doubts about the long-term but more that we may be heading into “unnecessary” complications. Yesterday saw USDCHF extend gains. That was expected – but then EURUSD pushed up higher and GBPUSD also. I have been aware of the potential in the Pound with a possible triangle in play – although the next triangle target is a tad higher than normal. However, there is still just the risk of a deep pullback. There is also the risk of a break above 1.1819 in EURUSD and that will frustrate because it will then begin to clash with USDCHF – or can both EURUSD and USDCHF see losses together?

Ideally, both EURUSD and GBPUSD should see losses. USDCHF… well… there is a chance of a minor new high – but “minor” is the keyword.

Even USDJPY behaved rather strangely – a high at 114.02, a pullback and what appears to be an expanded flat with an expansion of 47%. I’m not sure I’ve ever seen that depth of expansion. However, I’m sure that the rally (the expansion) certainly did not have an impulsive structure. There are strangers in our midst…

Only AUDUSD appears to be “normal” and should see deeper losses over today…

I’d suggest taking care today.

Good trading
Ian Copsey  







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