We have a different structure now in EUR/USD and the next major target is quite some way lower. This tends to suggest that the lower degrees are really lower degrees and we’ll have to build up to the higher degrees and this is going to be a bit messy at times.
With the other three Majors now having completed the pullback, we’re back on the dollar upside and basically, this will be the same for all. The only risk is that we still haven’t confirmed whether we’re going to see an expanded flat or a Wave -ii-.
EUR/JPY has seen a difficult development in terms of structure, but we appear to be seeing a rising wedge and, at some point, that should see a pullback lower.
The Aussie has found its high, so we have a decent move lower to go.