Further dollar gains
|We saw some modest gains in the Dollar yesterday. We should see more today but once that has been seen we should suffer a pullback. USDJPY has been seeing some slow, but constructive gains and I’m expecting more. EURUSD was a rather a sideways move but we should see it lower – and equally in USDCHF.
The good old Sterling had quite a solid decline initially but then began to build a sideways move. I don’t think it’s a consolidation but more of a minor Wave i and Wave ii, followed by another lower degree Wave i and Wave ii… If I have that correctly, then we should see some decent losses.
While all were in a general range, EURJPY took time to see a second rally. This additional high really doesn’t have any room for further gains so really, we should be looking for losses. The Aussie managed a new high but I reckon we’re going to see losses now…
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