Steady Dollar losses continued to develop over yesterday. However, we’re getting towards my targets now. I’d like to think that we’ll see the reversal today lower but if there are any long consolidations, perhaps it’ll be tomorrow. My expectation is for the recovery we have seen to complete today.
This should also allow the room for USDJPY to complete its moves although it seems to be a broad swinging move. USDCHF conceded to the downside, but still within the structure I have been looking at so I feel we’ll see gains in both these two pairs.
Ideally, we should also see GBPUSD push up one more leg before the reversal that should coincide with EURUSD – and possibly with AUDUSD. Thus, keep eyes peeled for reversal indications throughout the pairs.
Good trading
Ian Copsey
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