USD ? Reversal and Correction Signs Abound ?
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Dear Traders,
The USD has not had a good ride off late, but there are signs appearing in many USD crosses that suggest a relative comeback for the greenback.
This post will have a quick look at what is shaping up in the FX markets for the dollar.
EUR/USD
Most likely concluding a full 5 wave uptrend. Reversal potential is heightened.
GBP/USD
Looks to be concluding a long-term upwards correction since 2016 at this moment. Reversal potential heightened.
AUD/USD & NZD/USD
Seem to have completed 5 waves up. Although the uptrend is probably not over yet (i.e. the 5 waves could be part of a large wave 3… meaning a wave 4 and 5 still to come), but a bearish correction is long overdue and looking more and more likely now.
USD/CHF
Should also be due for a 3-wave upwards correction at the very least.
All the best along your trading journey….
Hubert
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