The Dollar made further losses on Friday – a break above 1.1860 EURUSD – to extend gains and this was not the final high. Indeed, USDCHF still needs losses and GBPUSD also. USDJPY is a little vague.
Overall, we’re looking at some choppy ups and downs so there doesn’t really seem to be too much expectation for trending moves today. Indeed, I suspect this will take us a day or three to get through the rest of their respective developments so it tends to suggest short-term trades and taking profits when seen.
The Aussie may have seen its final corrective high – I feel we have seen a triple three in this correction. Any initial losses will likely form the bearish foundation waves – so like the majors it seems that we shall have limited moves just for now before the downside can resume.
As for EURJPY, we need a pullback and then further gains.
So, take care over today. Hopefully, we’ll be able to get through enough to get closer to the Dollar bullish reversal…
Have a profitable week
Ian Copsey
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