Bedlam (squared) all sorted – now we see dollar gains

12/10/2018 05:29:13 GMT|ByIan Copsey

Gee… seriously, we saw Dollar losses on Friday?! Well, it managed it but I can’t see that it can be repeated. The Dollar downside has only a few pips before reversing to the upside. Perhaps we could see a minor pullback lower from the open but over the day we should now begin to build the Dollar upside again. For the majority of pairs, we still need to form the (Dollar) bullish foundation waves. If there is any pair that could react strongly, then it’s probably GBPUSD.

If there is any Dollar-currency pair that could see Dollar losses – then it’s AUDUSD. The decline from the 0.7394 high appears to have seen a 5-wave decline with a decent bullish divergence. I would be shocked if we saw direct losses. However, how deep is a Wave b/i? Well, as I write, it has broken below Friday’s low…

GBPUSD and EURUSD have gapped lower and USDCHF has gapped higher. That puts USDJPY in a tizzy…

Be prepared from minor Dollar corrective losses but we should see some decent Dollar gains today.

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Analysis

Bedlam (squared) all sorted – now we see dollar gains

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