In general, it almost feels like the market couldn’t give a damn. There’s a lack of purpose in many of the pairs and frankly, this could see the final leg of this week stumble to the losers’ tape without making much of an effort. Of course, there will be one or three pairs that will attempt to push one way or the other but I can’t see much excitement going into the weekend.
USD/JPY looks like remaining in a range. EUR/USD will most likely see a drop and pullback. USD/CHF should make some modest losses and GBP/USD… well, it looks like it has begun to suffer from dementia.
However, AUD/USD may be able to make some decent gains although there is some early risk of a pullback lower before further gains. However, that’s the puzzle that could happen – but overall bullish.
To complete the pairs, EUR/JPY managed to see the losses I expected. I’d like to see a little more but the balance between USD/JPY and EUR/USD doesn’t look encouraging and may well end up in a consolidation.
Put your feet up and have a great weekend
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