Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Onto The Next Stage

ByIan Copsey
Published 03/04/2015, 11:18 PM
Updated 07/09/2023, 06:31 AM

Further US Dollar strength continued - but actually a little more than anticipated. This brings us to a key juncture in this sequence. Momentum across the Europeans is very clearly Dollar bullish. Both hourly & 4-hour Price Equilibrium Clouds confirm momentum readings. However, we are also at a stage where there is potential for a correction. The crucial element to now consider is just how deep any correction will manage to retrace. This will be the task for today.

The Aussie edged a little higher again, baulking the general Dollar strength. It’s rather difficult to gauge the next move given that momentum here is neutral and also reflected by the oscillation around the hourly & 4-hour Price Equilibrium Clouds. It’s going to need a break of the range over the pat two days to begin to generate a move away from the Clouds to generate the next directional move.

USD/JPY moved nowhere but is poised to extend losses. The key issue is finding its corrective high. Once that has been established we can be more certain of the resumption of the downside. On the assumption that EUR/USD is going to correct higher, USD/JPY needs to take advantage of the downside. Thus, the balance between these two - and the expectations in EUR/JPY - is going to need some critical observance. I do see the cross extending losses but will then need a correction. This tends to suggest a period of corrective behaviour all round.

Caution today. There are some mixed outlooks – although generally expecting corrections…

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.