I wasn’t really expecting too much yesterday but it turned out to be an underwhelming day. 

EURUSD just couldn’t decide what to do. So basically, the outlook I had hoped for may develop today. Either it’s a break above 1.1327 or a break of 1.1230. If the former, then it’ll complete a triple three and then it’ll go lower. I’m still looking for losses in USDJPY after a day of the sleepy hollow. 

USDCHF managed to form a Wave I so now we need a pullback – and that may suggest that EURUSD will see a new high. Equally, the comments I gave yesterday in GBPUSD remain. I just have a doubt in my mind that we could see a new high before losses resume. Otherwise, we’ll just see a direct decline.

The Aussie was equally slumberous and soporific but should now go lower.

As for EURJPY, well we did see a 1 point high that could imply an expanded flat – but really? Just 1 point? It’s possible but I’m not sure I’ve seen a single point to complete an expanded flat…

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD: Stable amid trade calm and German stimulus hopes

EUR/USD is trading around 1.1100, marginally higher. President Trump expressed optimism about reaching a trade deal with China while Germany's Scholz opened the door to stimulus. EZ Core CPI is confirmed at 0.9%.

EUR/USD News

GBP/USD steady below 1.2150 after Yellowhammer leak, as Corbyn calls for no'confidence

GBP/USD is trading below 1.2150 amid reports of food shortages in case of a hard Brexit, project Yellowhammer. Opposition leader Corbyn calls for a no-confidence motion against the government 

GBP/USD News

USD/JPY bounces off 106.25, focus on Fed minutes, Jackson Hole

USD/JPY bounces off the key support at 106.25 and heads back towards the 106.50 level, in response to downbeat Japanese trade data, risk-on action in the Asian equities and higher Treasury yields.

USD/JPY News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bullish levels to watch after Binance announces Venus vs. Facebook's Libra

Cryptocurrencies have been advancing once again, with Bitcoin topping $10,500, Ethereum clawing its way back above $200, and Ripple extending its gains.

Read more

Gold: Drops to multi-day lows, back below $1500 handle

Meanwhile, technical indicators have been gaining negative traction on hourly charts and support prospects for an extension of the corrective slide back towards testing last week's swing lows.

Gold News

Majors

Cryptocurrencies

Signatures