Mixed Bags Between FX Pairs

Published 10/05/2018, 12:11 AM
Updated 07/09/2023, 06:31 AM

I have to say that the development has been rather rough and ready, but we’re expecting to see those losses. EUR/USD still needs losses and USD/CHF still needs gains. However, it appears that GBP/USD should be seeing dollar losses while USD/JPY needs a second rally. Coming into a long weekend, I would suggest taking care – although the focus remains in EUR/USD and USD/CHF to be dollar bullish today.

The Aussie should follow EUR/USD lower – and still needs a modest follow-through but I suspect by the end of the day they may complete find their lows to then move back into the range. This is will really be convenient for EUR/USD and USD/CHF to complete their dollar gains for a reversal. It will then have its turn to see a dollar bearish correction.

USD/JPY is expected to see a rally and EUR/USD a follow-through lower. Thus, I wouldn’t be surprised in EUR/JPY that it could signal a complex correction.

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