We should see a reversal lower in the dollar
|After all the ups and downs in EURUSD, we are finally reaching the (cyan) Wave c/v. I have also noted that GBPUSD has seen both hourly and 4-hour bullish divergences. So once we have seen the EURUSD low we can look to the upside in these two pairs.
I was correct to be cautious in USDCHF. We did see losses to complete a double zigzag. Perhaps we shall see a pullback and yet another zigzag to complete a triple three. As for USDJPY, I’m rather cautious about the apparent zigzags. This is still going to be a puzzle as to whether the (red) Wave -i- and Wave -ii- or a shallow pullback in the (green) Wave -i- to form a Wave -ii-. This seems to still be an ongoing development that will need dual developments…
I’d love to see the Aussie go higher again – but it’s a coin toss, to be honest. The (cyan) Wave -b- was relatively shallow but with the Wave -iii- it can see those losses directly. Best wait for breaks of the current highs and lows…
Once EURUSD has found its low we should see deeper gains and as discussed in USDJPY, we may see a final zigzag to then push back higher. This should, over the day, see some decent gains in EURJPY.
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