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Aussie To See Gains Today

Published 05/16/2019, 01:13 AM
Updated 07/09/2023, 06:31 AM

The EUR/USD seem to have no idea what they’re doing. The meandering flow we have seen could have been much quicker. However, overall now, we just need a 3-wave rally. Once that is done we can get back to a stronger dollar. Both USD/JPY and USD/CHF are building a platform. If there could be a risk, then it’s in USD/CHF. It has formed a double zigzag so we’re going to need some care. If that is seen, then it could be a break lower today – or we’ll see a deeper rally and then a pullback.

While these 3-majors have been flustering, GBP/USD has done the good deed – a pretty good decline. We should see some further losses but once the low is seen we could see a modestly deep pullback and perhaps this will then correlate with the 3 musketeers.

With the balance between USD/JPY and EUR/USD, there’s a chance we could see an expanded flat. Down under, the Aussie reached the (cyan) Wave -a-. Today should bring some gains now.

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