We could be in a 3 waves zigzag here, currently in wave (B) which is near it's ending point.
So, if NFP comes higher than what is expected, we could see a new rally in the dollar taking this higher.
If on the other hand we see it come out below expectations and Powell takes a dovish tone later today,
the dollar will then get destroyed!
So, if NFP comes higher than what is expected, we could see a new rally in the dollar taking this higher.
If on the other hand we see it come out below expectations and Powell takes a dovish tone later today,
the dollar will then get destroyed!
Comment:
NFP at 136k vs 145k expected
Earnings at 2.9% vs 3.2%.
Despite that, dollar remains strong and even has some small gains.
Not sure that it will hold but let's see
Earnings at 2.9% vs 3.2%.
Despite that, dollar remains strong and even has some small gains.
Not sure that it will hold but let's see
Comment:
Alternate count - This move down might be only wave A of a 3 wave correction.
In this case, price should go up for wave ((b)) but it should be choppy, overlapping and in 3 waves !
In this case, price should go up for wave ((b)) but it should be choppy, overlapping and in 3 waves !
Comment:
Both, Primary count and alternate count suggests higher prices here which is encouraging for bulls.
For now, we might make a case that we are in a impulse, currently wave in the third wave.
For now, we might make a case that we are in a impulse, currently wave in the third wave.
Comment:
We're seeing overlaping price action here contained in this rising channel.
This indicates we're in a correction and that we'll go lower again once this correction ends.
A first resistance zone is marked by the yellow box.
This indicates we're in a correction and that we'll go lower again once this correction ends.
A first resistance zone is marked by the yellow box.
Comment:
Looks like this turned into a nice impulsive rally after all.
Currently we are in wave 3 but we have resistance very close so could see a pullback for wave 4 before going up for 5 of (C) once more.
Currently we are in wave 3 but we have resistance very close so could see a pullback for wave 4 before going up for 5 of (C) once more.
Comment:
USDJPY - Down in wave 4 which are very tricky to trade. So, don't assume we'll see a sharp reversal right away as we could continue sideways into a triangle pattern first. A move above wave 3 high would be bullish on the otherhand.
Comment:
USDJPY - One more small push higher might be coming.
Comment:
5waves in. Now looking like a Flat correction currenlty in wave B. Resistance is near so could see a reversal lower for at least a wave C.
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