Limited Ranges Continue In The Forex Market

I’m looking at EUR/USD and the (most likely) potential for a triangle. This should see a pullback higher and then a deeper, but not too deep, decline.

To compare with GBP/USD, we may have seen a low yesterday but I have a feeling that we may just see a limited new low to see a pullback higher. In terms of the Swissie, I would like to see it rally, but there is the potential for an expanded flat lower before any stronger gains. Just note that 1.0241 is a pivotal level.

Even losses have been seen in USD/JPY and frankly, it looks like we’re going to see an expanded flat – a new low for a reversal back higher.

I’m wary of the EUR/JPY. It could be considered a final low. Alternatively, we could just see an expanded flat and later a new low. That will need some care between EUR/USD and USD/JPY. As mentioned above, we should see USD/JPY making a new low while EUR/USD needs a pullback higher.

The Aussie should see a pullback higher and then lower.

This entry was posted in Stocks News and tagged . Bookmark the permalink.
0 0 votes
Notify of
0 评论
Inline Feedbacks
View all comments