Friday, January 12, 2018

STILL BACK TO THE DOLLAR UPSIDE

These lower degree structures can be a pain in the backside. Too much noise and far more risk. With EURUSD back to 33 points below the 1.2092 high there ain’t much room on the upside. We’ve seen USDJPY bottom out – for now - and that suggests a general potential for Dollar gains. GBPUSD could just reverse back lower – but does have a little potential for a new corrective high before losses resume. Equally, USDCHF should push higher but until 0.9816 breaks there will be a mild risk of a final dip below yesterday’s low.

Overall, I tend to feel that we have Dollar upside potential but without too much oomph behind it. This tends to suggest that EURJPY is more likely to see a more narrow range today.

As for the Aussie, the alternative I mentioned yesterday has developed and we should see a little more movement higher but don’t get too excited. Watch for reversal indications…

Have a great weekend
Ian Copsey  








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