EUR/USD and GBP/USD definitely had day off and I suspect we may see yet another. Whether the market can generate the strength to finally see a more definite trend today is possible but the way things are going, it may only be towards the end of the day…
The other pairing of the majors, USD/JPY and USD/CHF, are now completing a deep pullback. Once that is done, we’re going to need to form the bullish foundation waves – and that will likely limit the range once again. It’s hardly likely that we’re going to see some decent trends – or only towards the end of the day.
Perhaps we’ll see a similar development as described above in EUR/JPY. Yes, it did manage a decent decline but we’re now coming towards a low for a pullback. Yes, once again we have the potential for a rather limited range day…
Yesterday was quite a sleepy old day, in the bottom right of the planet. It seems that we could see a deeper pullback higher now.
Once all these sleeping tablets begin to dissolve, we should see some decent Dollar gains but we may have to wait until after the weekend…