Forex update: Puzzles
|The EURUSD is driving me mad. I’m sure that Jean-Claude Juncker drinks too much. I’m coming down to either a triangle or minor new low below 1.1135 to then see gains develop. Certainly, GBPUSD is close to a low for a deeper pullback. So I’m pretty certain we shall see Dollar losses in these two pairs.
This then has a second puzzle in USDCHF and USDJPY. However, these two pairs have seen 3-wave moves as the starter that could provide a complex correction. Therefore, we need to be aware, or a potential expanded flat lower. Otherwise, we could just see further gains…
Even EURJPY could be seeing a triangle already but at the end of the move higher will still be an expanded flat.
The Aussie… What a shallow pullback in (cyan) Wave –b-. However, we should see a pullback … not too deep before further losses resume.
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