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Aussie Topped Out And Is Expected To Head Lower

Published 06/04/2019, 05:21 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
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GBP/USD
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USD/JPY
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USD/CHF
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AUD/USD
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EUR/JPY
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DX
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Yesterday’s deeper pullback higher in EUR/USD has provided what should now be the (cyan) Wave -b- - perhaps one more push higher before losses.

USD/JPY has been a pain in the backside – right from January 3rd and that has affected the development. I think I’ve found the cause, but we should soon see further dollar gains.

Equally, the USD/CHF appears to have found its low. As for GBP/USD, I have seen an alternative, but we also have the potential for an expanded flat. As the majors are all coming to a reversal, I attempted to provide a Wave i and now we should see a Wave ii.

The Aussie has topped out – so we should be going lower. EUR/JPY reached the first reversal target. This should see a pullback – but the balance between EUR/USD and USD/JPY is going to need some care. It could even see a sideways move.

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