Now some swings - mostly for a Dollar Correction

Ian Copsey Harmonic Elliott Wave

Best part of yesterday was the 1.2818 low in GBPUSD…

While that was good, we still need some care. EURUSD has not yet reached its target and it’s not a Wave iii target so we’re looking at minor losses but then a deeper pullback. Equally, USDCHF should ideally hold below 0.9945-51 for a pullback. The other Major – USDJPY – as long as 111.19 caps we should see a pullback lower to below 110.85.

The Aussie has gone on a walkabout and seems intent on pushing lower all on its own. No doubt there’ll be a pullback but may not be too deep.

Finally, as far as I can see, and allowing for a minor new low as the day begins, we should see a pullback higher…

I can’t see that it will be a massive pullback that we see throughout the pairs, but it seems as if we’re going to end the week with a pullback…

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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