Perhaps I’m too impatient. Well, that could be right but take the example of USD/JPY. The start of this move began at 93.78 back in June 2013 and we still have quite some way to go… although I suspect we’ll see some acceleration over the coming months, thanks to Brexit.
Indeed, we should now begin to find some Dollar bullish development over the next day or three. We need to see USD/JPY reach the first reversal target. EUR/USD has seen a pullback and at some point, today we are likely to see losses. Equally, USD/CHF should move higher and GBP/USD lower.
I’m slightly uncertain about EUR/JPY. I’d like to see a minor new high before seeing losses develop. If I haven’t quite hit the right structure, then a break below yesterday’s low…
As for the Aussie, I’m looking at two alternatives. We may have formed a shallow Wave ii, followed by a (lower degree) wave i and Wave ii. If this is correct, then we’ll be moving lower. The alternative is a deeper pullback in Wave ii… Just take care… and wait for the breaks.