Thu 03-01-2019
USDJPY
I am still declined to think that there is still Wave(v) impulsive decline before the long term move up comences.
So tomorrow will find out whether that is the case or the first Wave up is on the way.
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GBPUSD
GBPUSD is still completing the corrective Wave(ii) and it is already showing momentum loss on the way up so I would be surprised if it passes the Resistance levels (@1.2700) towards the %76 Fibonnacci retracement.
But I will bear in mind that this corrective pattern is taking the shape of 5 waves; indicating that it is likely to be a ZigZag(5-3-5) correction.
Tomorrow we should see a Wave(iii) on the way down, which will be confirmed when it passes wave(i) at 1.2400, which should then act as resistance.
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EURUSD
EURUSD corrective Wave(ii) is playing out very similar to GBPUSD, with what it started to look like a ZigZag(5-3-5) correction.
Tomorrow we should also see a Wave(iii) on the way down, which will be confirmed when it passes the support at 1.1304, which should then act as resistance.
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EURCHF
EURCHF has a more convincing corrective Wave[iv] pattern underway towards Resistance levels now, which start to resemble a ZigZag(5-3-5) pattern.
Once the Wave[iv] is complete we should start to see impulsive waves to complete Wave[v].
60Mins
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AUDUSD
AUDUSD recent impulse down also put the doubt on my mind on whether this is wave[iii] or Wave[v] completion.
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