In the land of the blind there’s a long and winding snore…

Ian Copsey Harmonic Elliott Wave

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.

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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