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.
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