Slowly Coming Back To The Dollar Downside

Slowly Coming Back To The Dollar Downside

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

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