The main direction is that the dollar is bearish, but I am wary of EUR/USD just in case we see an expanded flat. Either way, the rally we are seeing is in good stead but with the other pairs, we’re going to see some limited swings. For example, USD/JPY should soon see a Wave v and therefore a Wave a. USD/CHF has completed a Wave i and therefore we need a Wave ii.
GBP/USD has seen some strong swings, but basically within a 5-wave move. It still needs gains – but then for a pullback. Beyond that, I suspect we’ll see a pullback and later to see further gains but probably dragging behind EUR/USD.
The Aussie appears to have seen a 5-wave rally. I just have a mild concern over the start of the rally. If the (navy) Wave a/iii was actually the Wave i then we could see it higher.
As for the lonely cross in EUR/JPY, there could be a triangle – or other complex correction. However, overall, I suspect with EUR/USD expecting gains and a languid USD/JPY, we should see gains.