The dollar gains were limited. EUR/USD baulked the potential for a stronger decline in favour of an expanded flat. GBP/USD managed to complete a triple three and USD/JPY managed a new high but that triggered a deeper pullback. Meanwhile, USD/CHF managed to reach my upper target at 0.9700 (+ 1 point).
Having seen the expanded flat in EUR/USD and the deep pullback in USD/JPY – and that triple three in GBP/USD there’s only one way to go.
Dollar bullish…
Even down under, the break above 0.7304 required a different structure but even then, it provided a zigzag from the 0.7085 low – with barely just 21 points below the corrective limit…
This provides a pretty good idea that we’re going to see the dollar making a decent rally…