Dollar Gains

Ian Copsey Harmonic Elliott Wave

I really found yesterday really boring and frustrating. How slow could it have been? EURUSD attempted to try and push higher – which it did – but in such a slow, sluggish move – although it managed to reach the 1.1390-1.1414 area as I suggested. GBPUSD surprised me with a new high but I realised my error so we should now see losses.

We also had USDCHF break lower to 6 points below the (green) Wave [ii] in an expanded flat - so now we can allow for a little lower, but overall the larger outcome is going to be for gains to resume.
A for USDJPY… snore…

AUDUSD managed to complete a triple three so we should be looking lower. Equally, EURJPY should see losses over the day. I’m just slightly wondering whether we may see a minor new high before losses resume.

So, the outcome for today is Dollar bullish – at last…

Author

Ian Copsey

Harmonic Elliott Wave

Ian Copsey has been around in financial market for over 30 years, the last 23 years as a technical analyst. He focuses heavily on price development and structure as "it is the only way to generate accurate support and resistance".

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