Are DOGE layoffs set to resume?
Yesterday’s developments were none too surprising, and in line with the underlying structure. EUR/USD surprised with a slightly higher target than I had been expecting, but retained the structure. Merely causing an adjustment of levels rather than altering the underlying expectation. There are still more dollar losses to come. However, they shouldn’t be direct. This is where there is a slight disconnect between the EUR/USD, USD/CHF, and GBP/USD. The ideal is for the EUR/USD to see a modestly deep correction. However, the CHF and the GBP do not seem to require such a retracement.
This stage of the structure was one of unusually deep corrections on more than one occasion. It can force shallower corrections at this stage in the “hourly” wave degree but does risk the potential for deeper corrections in the next lower degree. By this I am suggesting today that we’re going to have to remain extremely observant, and perhaps even more patient for the anticipated intervening mess to sort itself out. More than that, I would suggest looking at the Europeans as a “whole”, and to be aware of their targets in order to confirm the extremes.
The Aussie developed perfectly yesterday and should now rally or forever hold its peace.
Regarding the JPY pairs. USD/JPY behaved immaculately while EUR/JPY provided a stronger structure with which to work. The result? Of course bearish and more directly so in
In summary, look for the European targets, USD/CHF and GBP/USD providing the more clear cut areas to look for. Confirm EURUSD through the other two. Favour a bearish USDJPY.
This stage of the structure was one of unusually deep corrections on more than one occasion. It can force shallower corrections at this stage in the “hourly” wave degree but does risk the potential for deeper corrections in the next lower degree. By this I am suggesting today that we’re going to have to remain extremely observant, and perhaps even more patient for the anticipated intervening mess to sort itself out. More than that, I would suggest looking at the Europeans as a “whole”, and to be aware of their targets in order to confirm the extremes.
The Aussie developed perfectly yesterday and should now rally or forever hold its peace.
Regarding the JPY pairs. USD/JPY behaved immaculately while EUR/JPY provided a stronger structure with which to work. The result? Of course bearish and more directly so in
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USD/JPY. However, we may find the cross may just provide the occasional consolidation still. I suspect by Friday they’ll both be lower. How the Asian session develops looks important so look for confirmation during this session and take it from there.In summary, look for the European targets, USD/CHF and GBP/USD providing the more clear cut areas to look for. Confirm EURUSD through the other two. Favour a bearish USDJPY.
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