After all the ups and downs in EUR/USD, we are finally reaching the (cyan) Wave c/v. I have also noted that GBP/USD has seen both hourly and 4-hour bullish divergences. So once we have seen the EUR/USD low we can look to the upside in these two pairs.
I was correct to be cautious in USD/CHF. We did see losses to complete a double zigzag. Perhaps we shall see a pullback and yet another zigzag to complete a triple three. As for USD/JPY, I’m rather cautious about the apparent zigzags. This is still going to be a puzzle as to whether the (red) Wave -i- and Wave -ii- or a shallow pullback in the (green) Wave -i- to form a Wave -ii-. This seems to still be an ongoing development that will need dual developments…
I’d love to see the Aussie go higher again – but it’s a coin toss, to be honest. The (cyan) Wave -b- was relatively shallow but with the Wave -iii- it can see those losses directly. Best wait for breaks of the current highs and lows…
Once EUR/USD has found its low we should see deeper gains and as discussed in USD/JPY, we may see a final zigzag to then push back higher. This should, over the day, see some decent gains in EUR/JPY.