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EUR/USD And GBP/USD Looking To Downside

Published 03/05/2019, 11:51 PM
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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On the whole, we are still on the right track – or more likely several tracks. Both EUR/USD and GBP/USD are still looking to the downside but EUR/USD has been more penetrating compared to the jolly old pound. We should see these two pairs looking lower still. USD/JPY has been seeing a mini-rally and followed by a pullback. However, that will suggest further gains developing. We have also seen USD/CHF find a high for a pullback – but one that should see a deeper correction lower.

The Aussie was basically a pain in the backside, scrambling one way, then the other. It seems to me that we shall see an expanded flat.

In EUR/JPY, we see a decent decline to form a Wave i, so we’ll need a pullback and later losses. I suspect that once it has completed the second 5-wave decline we’ll see a pullback once EUR/USD has reached its low.

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