Not all was going to plan yesterday. We saw a final blip higher in EUR/USD and a break higher in USD/CHF. USD/JPY appears to have seen a relatively shallow pullback and in GBP/USD an adjustment in the 5-wave moves to see it find the Wave b/iii. Equally, to include the Aussie, it has formed a quorum to generate Dollar gains through the majors and Aussie.
And there’s more to go.
USD/JPY failed to reach the deep pullback that I had suggested and it looks like it’s going to poke above the 112.88 high. USD/CHF appears to need a pullback but there’s one of these “deep pullback – or deep Wave b/v” alternatives. EUR/USD should extend losses and should carry GBP/USD lower with it.
In the EURJPY cross, we have a potential for a minor pullback higher, but over the day we should see losses.