A second pullback?

In a correction there are plenty of options. I’m looking at a deeper expanded flat in GBPUSD. There is a risk too, in EURUSD but should be limited. If USDCHF breaks above its highs and reverses this should form a flat or expanded flat lower. USDJPY should be finding a high very soon to see a pullback. 

So I tend to suspect that we shall be heading lower in the Dollar again today.

Having measured the rally from the low in AUDUSD I noted that we had seen a 5-wave and therefore it should be heading back higher again. 

As for EURJPY, I’ve not really caught this particularly well, mainly down to the uncertainty of the balance between the two underlying pairs. Frankly, this development does look like a ragged range day.

The Daily Forecaster is an analytical tool only and is not intended to replace individual research. The service is offered as an opinion on the current state of the market with anticipated trading signals but not recommendations. The information provided in The Daily Forecaster should not be relied on as a substitute for extensive independent research before making your trading/investment decisions. Ian Copsey is merely providing this service for your general information. No representation is being made that any view or opinion will guarantee profits or not result in losses from trading. In addition any projections or views of the market provided may not prove to be accurate. The opinions are subject to change without notice. Opinions or views expressed in The Daily Forecaster are not meant to be either investment advice or a solicitation or recommendation to establish market positions. Ian Copsey will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this service. The information contained is private and may not be distributed or shared.