Pulldown

Ian Copsey Harmonic Elliott Wave

Well, well, well… After a slow, almost dying market, we have suddenly seen some stronger development but, if I have gotten this correct, we have found the final Dollar lows. Looking at the range of pairs, everything appears to be in order to now move back to the Dollar upside. Yes, it may be prudent to allow for a little more Dollar downside but frankly, I’m not a fan of this – but just being cautious.

USDJPY was all over the place and I had thought that we had reached the Wave a/iii and Wave b/iii but then it broke below the limit. Then I had to work out what had happened. Well, the Wave b/i I had looked like a 5-wave flat. So… at long last, we can get on with the business of a bullish Dollar. This is consistent through the 4-majors.

Even the Aussie reached the 58.6% (-1 pip) to reach the Wave (iv) and so now we have quite a decent decline to see… Equally, with EURJPY, we should head lower also.

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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