Barring some potential minor (Dollar) losses in the early stages, I feel that we should be looking for the Dollar to begin the initial bullish foundation waves. It seems that EUR/USD has already started the process along with GBP/USD that edged a little higher than I forecast – but still in the range of a Wave v. It would be nice to see AUD/USD finally complete the rally we have been seeing. Once that has been confirmed it should begin the downside slide.
As we go through the day, we should begin to see further Dollar gains. USD/JPY has completed a double zigzag – perhaps it can complete a triple three. USD/CHF could be similar – just a minor new dip. As normal, the Asian start tends to be rather sleepy.
Once we get into the Asian/European session the Dollar should begin the process of the bullish foundation waves and then higher into the U.S. session.
As for EUR/JPY, I feel we have found the (brown) Wave [a] and – most likely – the Wave [b] also. Perhaps there could be some minor new highs in the Wave [b]. However, overall this should see losses…