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Strong Dollar Gains Expected

Published 03/06/2019, 11:24 PM
Updated 07/09/2023, 06:31 AM
EUR/USD
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GBP/USD
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USD/JPY
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USD/CHF
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AUD/USD
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EUR/JPY
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DX
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I’ve noted that in the hourly markets we are seeing limited Wave ii’s and Wave b/iii’s. I sense that we’re going to see further gains, but at some point we’re going to need a deep pullback in a Wave b/iii or deep Wave ii. The timing of when that will occur is rather uncertain.

We’ve just seen USD/JPY form a relatively shallow Wave (b). It makes sense because EUR/USD and GBP/USD are still looking to the downside, while USD/CHF also saw a shallow Wave –b-/-iii-. We should be still looking for stronger gains in the dollar.

Even the Aussie managed to see losses – although slow and ragged and this should continue.

So with a bullish USD/JPY and a bearish EUR/USD, I tend to suggest a rather sideways move in EUR/JPY.

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