Ideally, We Should See A Reversal Back To The U.S. Dollar Downside

It’s still a slow market but at least we’re getting closer to a pullback. Most likely we should be seeing the reversal today. I just hope that the pullback will be relatively swift. Ha! That’s a joke! Well, ideally, we’ll see a reversal to the U.S. dollar downside. EUR/USD is close to finding its low – equally the same in USD/CHF but for a pullback lower. GBP/USD has just reached the Wave iii and, most likely, we should see a modest pullback – or perhaps a deep Wave b/v…

So, while the three markets noted above, we have USD/JPY flapping about, sleeping on the job and really not engaged with the market. It may even see a deeper pullback below the current (green) Wave b. It’s been over a week that I suggested the first reversal target but we ain’t getting there yet…

EUR/JPY appears to be following a slow pullback higher. Once EUR/USD has found its low, this could provide a firmer rally but we still need to be aware of the sloth-some USD/JPY…

Finally. The Aussie has reached a Wave (iii) and that could either provide a deep-ish kind of pullback or a deep Wave b/v…

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