Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Bullish Intent Disclosed

ByIan Copsey
Published 03/16/2015, 12:26 AM
Updated 07/09/2023, 06:31 AM

Friday was a much better day than Thursday. Not everything went 100% to plan, but the process of renewed strength in the Dollar developed very well. Indeed, while there is likely to be a slow start to the today’s trading, the larger US Dollar uptrend remains intact. The 4-hour Price Equilibrium Clouds have been doing their job in terms of following up to ensure that the trend continues. There is a larger correction due before too long, but for now the basic trend continues. There has been no single Dollar-currency pair that I follow that is not indicating any significant rejection of this process.

Today, the Continental Europeans look like bowing to the strong Dollar but I suspect will then see a period of corrective price activity. From that point it will be a matter of how short or long the correction takes. Even GBP/USD seems to have avoided the recycling I had been looking for – and therefore has a similar expectation to its Europeans buddies.

The Aussie, following its correction higher, saw steady losses over Friday. This too, is suggesting a correction before the downtrend resumes. When it does it should mainly be correlated with the Europeans.

The JPY pairs also developed as expected. USD/JPY wasn’t expecting to move much higher on Friday and instead edged sideways to lower. USD/JPY should extend its gains but I’m not expecting a rout. Equally, EUR/JPY is also coming to a point where some corrective behaviour is due to develop. It is still on a slippery slope but appears to be reaction to EUR/USD rather than USD/JPY. Thus, it seems as if EUR/USD has more influence today.

Caution in the first half of the day at least but be aware of some correction/consolidation as the day continues.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.