Yesterday’s Dollar losses were a little stronger than expected but the outcome has actually provided a more balanced finale to this particular move. Through the pairs, there are still one or two pairs that could extend the Dollar losses but it shouldn’t be a strong move. Once we come to the point where we see reversals we shall then need to navigate the foundation waves for the move back towards the Dollar upside. Since we’re right a reversal point we just cannot even begin to suggest how these will form. Let’s just say that we’re right at an extreme, at this point, and therefore place stops beyond the current limits – GBPUSD being a possible exception although I feel it will fall into the main group. This does suggest that even the upside down currency will follow the rest of the brat pack.
Thus, take care but overall we should soon begin on a more bullish road…
Good trading
Ian Copsey
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