Yesterday was basically the day I had expected. I would have preferred a quicker development but, hey ho, we can’t complain… However, today should have more vigor to push the dollar higher. I’m not going to provide too much at this stage but “bullish” we should see. Over the past few weeks we have seen some sluggish development. I can’t even say that it will accelerate but, overall, we should be heading higher.
USD/JPY should be able to form the Wave i and perhaps a bit more. I’d like to see EUR/USD reach down below towards the “normal” Wave a/iii – although I’m not quite sure what “normal” means at times… USD/CHF may see a minor pullback but over the day we should be heading higher also.
GBP/USD appears to need a minor new corrective low and followed by a pullback – and if we’re lucky we may even see losses over the day.
While there is some risk of a pullback in EUR/JPY, the day should head lower again and that could now be the final pair to move back lower – AUD/USD…That was quite a stretched out rally we have seen. It’s now time for losses.
Good trading