I get so bored with these slow, cumbersome and sleepy movements. I know where this is going in the larger picture so why can’t the market get on with its job? I did suggest looking for a second rally in USD/JPY and that has developed, but it’s a rather awful development. It should still see a new high but over the day it should, I hope, reverse lower. Even the Wave -v- I have placed in the chart in EUR/USD appears to have formed a low – along with a bullish divergence. It may be prudent to allow for a new low, but we should – surely – see a pullback higher – please.
USD/CHF has been bothering me. It fell just a few pips below the (blue) Wave -iii-. I’d like to see this develop into a “quickie” – up to the Wave iii and then a Wave v pretty quick. However, prudently, we need to just follow that move…
In the land of “Brexit” I still see losses. However, I wonder whether we are seeing one of those broad swings – up and down – to then push lower. I have some concerns over this pair. Just be aware of breaks that could see a break one way or the other.
Between EUR/USD and USD/JPY, we have seen a deeper pullback. This cross can provide a deep Wave b/iii but overall with EUR/USD – hopefully – we can see a new high but once USD/JPY has tired of the altitude we should see losses overall.
A pullback appears to be the expectation in the Aussie.
Slowly Coming Back To The Dollar Downside
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.