It looks like a mix and match day
|I’m getting a bit frustrated with the slow development. In particular, USDJPY should have seen the first reversal target by now but the market just moves sideways. I’ll still keep the Wave iii targets in mind, hopefully, to see some further gains… but…
EURUSD still needs losses – not too deep but hopefully to form a Wave -i-. USDCHF has been averse to the upside but it must see gains over the day. (Please.) GBPUSD … well, I’d prefer to see losses but there is the risk of an initial pullback higher before those losses.
There is a chance that we have seen a Wave -i- in EURJPY. The only caveat is that the lower degrees were so shallow that it’s rather difficult to work through the tick-bar development, but it takes so long to work through.
The Aussie is a little easier. We have seen a 5-wave decline to form the (brown) Wave (a). This should see a decent pullback higher in Wave (b).
Overall, it should still follow the recent development in terms of limited ranges.
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