Back To The Dollar Downside

www.investing.com/analysis/back-to-the-dollar-downside-200338442

By Ian Copsey | Aug 14, 2018 12:23AM ET

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EUR/USD

+0.28%

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GBP/USD

+0.16%

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USD/JPY

-0.07%

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USD/CHF

-0.15%

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AUD/USD

0.00%

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EUR/JPY

+0.18%

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While yesterday was a slow old day, as far as I can see we should now have seen the final dollar high – for now. This now requires EUR/USD and GBP/USD to develop in a corrective development while USD/JPY and USD/CHF should see follow-through in an impulsive move.

The balance between the two sets of pairs are slightly different – and it’s USD/JPY that will have a finite move at 108.11, while USD/CHF that has a more rough target. However, with luck, we should see them both finding a low around the same area for a reversal back higher. Both have seen their Wave i and Wave ii, so we’re looking for the follow-through lower.

The more complicated set is EUR/USD and GBP/USD due to the fact that they are forming a correction. At this point, we don’t know whether the recover will develop in a series of zigzags – or just one zigzag… If I’m to be bold (or stupid) I’d suggest a target area in EUR/USD to reach the 1.1530 – 1.1560 area while GBP/USD could reach the 1.2970 to 1.3135 area.

That AUD/USD finally found its (brown) Wave -a-/-iii- implies a pullback along with EUR/USD and GBP/USD. I’m not sure whether these three pairs will find a high at the same time – but the basic idea is that we have a rough and ready outlook.

As for EUR/JPY, we have found a temporary low but with the two sets of pairs generally being relatively correlated it tends to suggest a rather messy pullback higher…

USD/JPY Extends Recovery on US CPI Surprise - 155 Next? By Fawad Razaqzada - Feb 12, 2025 3

The USD/JPY is rising due to increased US bond yields and inflation data. Higher-than-expected CPI has delayed Fed rate cut expectations. Upcoming data, like PPI, may push...

NZD/USD: NZ Dollar Eyes US and New Zealand Inflation Data By Kenny Fisher - Feb 12, 2025

The New Zealand dollar is in negative territory on Wednesday. NZD/USD is trading at 0.5636 in the European session, down 0.31% on the day. US CPI Expected to Tick Lower to...

USD/JPY on the Rise: Is the Rally Sustainable? By Trading Point - Feb 12, 2025

USD/JPY starts a new bullish cycle ahead of US CPI data Key resistance near 154.30. Will the bulls retain their power? USD/JPY drifted up to 153.72 after confirming a bullish...

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