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More Of The Same For The USD

Published 02/20/2018, 11:30 PM
Updated 07/09/2023, 06:31 AM

Well… the pullback for the follow-through was pretty darn shallow! What’s more, it looks like we are going to see further dollar gains and basically to the eventual targets I have been suggesting. However, before that, there is the risk of the normal Asian consolidation. This could still provide a pullback also though I can’t see this being too deep.

If there is any pair that can baulk the pattern, then it’s AUD/USD that looks like seeing losses but even then we’re close to a Wave iv and therefore it doesn’t look like an immediate rush lower. Perhaps I could include EUR/JPY that made a good job of a two-day sideways consolidation within a 70 point range. I wondered where the snoring was coming from.

So we’re likely going to see the normal slumber initially but overall the main dollar-currency dollar bullish move will continue over today.

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