Posted bellow are a quick view of my counts, the evidence supports a weaker dollar in the short term, but soon we'll resume the risk off trend all over a gain. Take a look.
NZDUSD: It seems evident that we are in wave 4 higher at this point, similar to the counts we have on the USDCAD, EURUSD & USDCHF.
USDCAD:Based on alternation the wave iv that is yet to unfold could be a flat/a triangle, in either case I'd expect at least a 23.6-38.2% retracement of wave 3.
This is the USDCHF posted above.
EURUSD: Wave 4 limit: 1.2800
GBPUSD
I will proceed by scaling out some profits from the USD longs in anticipation of a wave iv & 4 which would reflect short-term USD weakness.
Regards,
Ahmed Farghaly
USDCAD:Based on alternation the wave iv that is yet to unfold could be a flat/a triangle, in either case I'd expect at least a 23.6-38.2% retracement of wave 3.
I will proceed by scaling out some profits from the USD longs in anticipation of a wave iv & 4 which would reflect short-term USD weakness.
Regards,
Ahmed Farghaly
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