In the land of the blind there’s a long and winding snore…
|Seriously, the EURUSD guys seem to have no idea what they’re doing. The meandering flow we have seen could have been much quicker. However, overall now, we just need a 3-wave rally. Once that is done we can get back to a stronger Dollar. Both USDJPY and USDCHF are building a platform. If there could be a risk, then it’s in USDCHF. It has formed a double zigzag so we’re going to need some care. If that is seen, then it could be a break lower today – or we’ll see a deeper rally and then a pullback.
While these 3-majors have been flustering, GBPUSD has done the good deed – a pretty good decline. We should see some further losses but once the low is seen we could see a modestly deep pullback and perhaps this will then correlate with the 3 musketeers.
With the balance between USDJPY and EURUSD there’s a chance we could see an expanded flat. Down under, the Aussie reached the (cyan) Wave -a-. Today should bring some gains now.
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