Friday, January 11, 2019

EARLY PULLBACK FOR DOLLAR GAINS

We have begun to develop the Dollar bullish foundation waves. They’re now quite done. EURUSD has formed a Wave i so we need a pullback in Wave ii. GBPUSD has only managed a meagre Wave a so we need to confirm the Wave b for losses to the Wave c/i. USDCHF found it’s low and from there it soared higher to form a Wave i.

In the meantime, USDJPY has formed a Wave -a- and it looks like we’re seeing an expanded flat to form the Wave -b- so that will then need a 5-wave rally to form the Wave -i- and thus will need a Wave -ii-. 

The Aussie has found its high and has formed the bearish Wave -i- and we’ll need to confirm the Wave -ii- for losses to resume.

EURJPY has also formed a Wave i but we may see a pullback higher but I doubt it will be too high but ideally above 124.79 and once the high has been confirmed the downside should continue.

Have a great weekend
Ian Copsey  





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