I didn’t quite catch the last leg in EURUSD but now it’s done, we’re due a decent reversal after all the Dollar gains. Having said that, USDJPY has provided an ominously new low and in GBPUSD there’s a risk of an expanded flat. I’m not talking about a massive move, but a considerable correction. It doesn’t look like we’re going to see these Dollar gains rush higher from the off, but we should see a pullback before the Dollar begins to make its way higher.
Even in AUDUSD, as far as I can see (because it’s been a tough decline to follow) the upside down currency should also benefit by pushing higher also.
As for EURJPY, I seem to feel that it’s going to see some swings over this period – some new lows but also pullbacks. Overall, this tends to suggest a volatile week for the cross.
Have a profitable week
Ian Copsey
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