FX Majors | Patterns & Waves | June-July 2019

FX Majors | Patterns & Waves | June-July 2019
Markets: FX Majors

• Dollar Index (DXY)
• EUR/USD
• GBP/USD
• USD/JPY
• USD/CHF
• AUD/USD
• NZD/USD

FX Majors have been moving a lot lately, with multiple impulses potentially around the corner, awaiting their turn.

During Q2, I’ve been sharing some daily wave counts, in which I’ve been signaling some swings. Most have already started.

Now that the DXY is finally showing signs of weakness, it could translate into the breach explained in the “Forex Trading | Elliott Wave Structures | Q2 2019” article.

The Yen has been gaining strength and so did Gold, which has delivered a bullish impulse.

The main question right now is: “Is the USD continuing the Bearish Impulse?”

There are considerable technical signs contemplating towards the answer: “YES”.

Fundamentals and Technicals aligned for the USD’s bearish stance, along with the “FOMC – Trading Ideas – Elliott Wave – June 2019” video I published, the day of the event.

All FX Majors counter-currencies are helping to push to USD lower, as they are showing reversal patterns.

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FX Majors | Patterns & Waves

DXY – 2H Chart (picture)

• #DXY labeled within a Bearish Impulse, involving an Extension.
  Expectations are for the USD to face a drastic decrease, in the 3 of 3’s.

DXY – 2H Interactive Chart
(click to open)

EUR/USD – 2H Chart (picture)

• #EUR/USD labeled within a Bullish Motive Wave, in Intermediate (C) (green), final leg af the Intermediate (A)(B)(C) (green) sequence.
  Euro-Dollar should go bullish after the retracement, with a violent move on the up-side as the next interpretation.

EUR/USD – 2H Interactive Chart
(click to open)

GBP/USD – 2H Chart (picture)

• #GBP/USD labeled within an Intermediate Degree (A)(B)(C) (green) Bullish Correction.
  After the correction, the Pound-Dollar should jump on the up-side with a sustained bullish extension.

GBP/USD – 2H Interactive Chart
(click to open)

USD/JPY – 4H Chart (picture)

• #USD/JPY labeled within a Complex Bearish Triple Three pattern in Intermediate (B) (blue).
  Minor Z (purple) is expected to resume for the down-trend, in an impulsive manner.

USD/JPY – 4H Interactive Chart
(click to open)

USD/CHF – 2H Chart (picture)

• #USD/CHF labeled within a Triple Three corrective sequence, with a Bearish sequence awaiting to complete the correction in a violent way.

USD/CHF – 2H Interactive Chart
(click to open)

USD/CAD – 2H Chart (picture)

• #USD/CAD labeled within a Bearish Impulse of a larger degree, with the expectations for a big impulse on the down-side to commence, but after a retracement.

USD/CAD – 2H Interactive Chart
(click to open)

AUD/USD – 2H Chart (picture)

• #AUD/USD labeled within a Complex Bullish Correction, with the current location being Intermediate (Y) (pink).
  The Leading Diagonal in Minor A (orange) is implying a sharp correction in Minor B (orange), but a sustained bullish impulse is awaiting in Minor C (orange).

AUD/USD – 2H Interactive Chart
(click to open)

NZD/USD – 2H Chart (picture)

• #NZD/USD labeled within a Bullish Minor ABC (orange) sequence, within a larger degree Double Three in (W)(X)(Y) (pink).
  Minor A (orange) is finalizing the Leading Diagonal, after which Minor B (orange) would correct about half of the motive sequence.
  Minor C (orange) should present itself as a strong and sustained bullish impulse.

NZD/USD – 2H Interactive Chart
(click to open)

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Many pips ahead!