I thought we would move into the 1.1108-91 area in the . However, what then occurred was a deeper pullback. Very clearly, we have been tricked by a 5-wave decline. We should see a new high after the open and then see losses resume – just a broad swinging move but the lower degrees tend to trick in these cases.
Even triggered a deeper decline. I had thought that the 109.02 was the Wave v. However, the deep pullback was an aberration to form a Wave iv and now we have probably seen the low – but should hold above 108.08. Therefore, we should be heading higher.
still has further losses to go but only for the Wave v. This should then see gains resume. appears to have formed a Wave ii after an expanded flat. Ideally, we should losses.
I suspect we have seen the low in but it may be prudent to allow a margin below. However, even then, while USD/JPY can see some decent gains, the limited follow-through higher will then see losses in EUR/USD so I’m looking at a potential consolidation.
Finally, the actually broke higher and needs to reach a Wave iii, a pullback in Wave iv and then a final Wave v. From there we should begin to see losses.
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