Tue 15-01-2019
USDJPY
USDJPY is still moving very slowly which can put more weight on the possibility of the alternate count (towards a lower Wave (ii)
If, however the price actions breaks through the Resistance levels of Wave (i) @109.06 we could safely sai that Wave iii is underway.
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USDCAD
USDCAD nearly touched the 200EMA and it is already showing momentum loss on the upside so a move towards the lower Trend should not take too long.
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USDCHF
USDCHF is behaving quite as we were expecting and Wave (iii) has started in another impulsive wave towards resistance levels.
Wave i of Wave (iii) seems to have been completed now and we should see a Wave ii correction towards the Support levels made by the highest of Wave (i) @0.9848.
After Wave ii is complete we should see Wave iii of Wave (iii) move up with another strong impulsive move.
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EURUSD
The impulsive moves down today and weak corrective moves suggest that a possible Wave (ii) correction is underway.
Although, depending on the length of what it is now labelled as Wave (ii), it could be the case that Wave (i) is actually a continuation of Wave iii, which would suggest the move down to be more extended.
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EURCHF
EURCHF has now Wave ii underway which seems to be the right sholder of a Heads and Shoulders formation and, once completed, should lead to Wave iii of Wave (iii) for an impulsive drop downside.
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EURGBP
EURGBP completed Wave ii today and made an impulsive move down for what could be a first wave of Wave iii (which would suggest the move to be a more prolonged move).
For now the expectation is the price to continue towards Support levels (@0.8812) and a bounce from there on a corrective Wave iv.
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GBPUSD
GBPUSD looks like has started Wave i down and completing Wave ii retracement for a potential series of waves now to form Wave [iii]
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AUDUSD
Nothing much has changed for AUDUSD as it is steadily moving sideways so is still not much price action to work on; so I will stick to the original Wave structure where Wave (i) is still underway and Wave (ii) should follow towards Fib retracement levels.
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