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Dollar Bullish In The Four Majors

Published 02/20/2019, 11:23 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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It took most of the day to finally reach targets. USD/JPY was first, breaking above a Wave x while the other three still took time to wriggle and walk to find their own Wave v. So, now we have the joy of working out the bullish foundation waves to form the Wave i and Wave ii – although USD/JPY took the plunge to form its Wave i and Wave ii. The development in USD/JPY needs a long Wave -iii-, -iv- and -v- to finally form the (blue) Wave [iii]. So there’s some work to be done. Actually, USD/CHF is now moving into the same type of development as in USD/JPY – a long Wave -iii-.

EUR/USD provided a high right towards the higher target I suggested, so now we have formed the (cyan) Wave [ii] to then see some solid losses that should develop over time. Equally, GBP/USD is in a pretty similar decline to reach the (purple) Wave [c]/[iii]…

I think we’ve also seen the upside limit in Aussie and I’m expecting losses. Equally, I feel the same in EUR/JPY will now see some decent losses. However, with a bearish EUR/USD and bullish USD/JPY, there may be consolidations along the way.

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