On the whole, yesterday saw pretty much as I had expected – apart from one pair, that being GBP/USD. That’s the tougher outcome because it’s almost open ended, washing around in a big range with no clear point that can be identified easily. It’ll come in the course of time and in the meantime we can get on with the other pairs and keep an eye on cable later.
So yesterday we saw hits on EUR/USD, USD/CHF, USD/JPY – and marginally short on EUR/JPY. Now we have the challenges of the 4-hour Price Equilibrium Clouds. It seems, as usual, the market will be pretty dull until the European and North American sessions that will provide the opportunity for the Clouds to flatten out a little more. Then we have to leap the hurdle.
AUD/USD was another detractor. This pair is a master of the deep Wave (b)/(iii) route. Always seems to enjoy not going the direct route but taking time to make sure that no one can find them. Today should see the outcome I had expected yesterday.
I’m sure looking forward to the coming trend.