I have to admit to having a difficult time yesterday, to generate what a meaningful outcome. However, over the early hours of the morning, I managed – with the help of some swings – to then target in on the structures. This basically occurred towards the end of the North American session and we’re just coming into the Asian session. Cue the correction. To be honest, there’s not much room for a pullback so I’m not sure whether we’ll manage to cope with a sleepy 8-9 hours so we may just see Asia push a little more as the early Europeans begin to come awake after a cup of black coffee.
Once the coffee has been imbibed we should then see further dollar gains…
This may give EUR/JPY the final chance to try and push back higher. With EUR/USD needing a pullback higher and USD/JPY (preferably) pushing higher, could we manage to get back above 133.38? It’s touch and go, so best to wait for the break levels.
AUD/USD is mimicking the Europeans at this point and therefore we’re most likely going to see the same template as the Europeans.
The basic expectation is to watch for dollar bullish signals.