USD: Gains Likely To Resume From 66.7-76.4% Retracement
Ian Copsey | Sep 13, 2016 03:37AM ET
13th September:
The (green) wave b/iii deepened to reach the 87.7% retracement and has been followed by a (navy) wave i and we now need to establish the wave ii - which I suspect is going to be deeper due to the Europeans rallying in general. Thus, I feel we are likely to see a 66.7%-76.4% retracement and from there we should see gains resume. Once this occurs the dollar should be much stronger but it could still take the coming week - maybe slightly longer - to produce the upside here.
I still feel that the wave iii is going to need a 461.8%-498.4% projection in (green) wave iii. So it doesn't need to see a pullback lower - but at the same time, it could still happen. Thus, watch the individual pairs and take note of their movement.
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