Monday, February 5, 2018

COULD BE A MESSY DAY

I have no idea what NFP figures were but it was always going to be Dollar bullish. The structures I have are pretty certain to favour the Dollar. So, that being seen, the start of the week has been rather ragged and being the start of the week in Asia, the risk seems to be towards an initial pullback lower in the Dollar.

At a later stage, this could see follow-through from Friday’s Dollar gains.

I’ve noted that the range of pairs are spread between having broken through the 4-hour Price Equilibrium Clouds while others are still grappling with a bullish break through the hourly Clouds but then hitting a barrier at the 4-hour Clouds. That tends to suggest that we’ll see a cautious start to the week.

The Aussie has broken through the 4-hour Price Equilibrium Clouds – and by a decent margin with hourly & 4-hour momentum. For EURJPY, it is grappling with the 4-hour Clouds so that tends to suggest an initial consolidation. Later in the day, I suspect this will then provide a stronger directional move.

Have a profitable week
Ian Copsey  







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