We see the USD index turning lower for a deeper correction, so for now other currencies will be strengthening. On the cable we have seen a very deep three complex correction in wave 2)/B) that appears to be finished near 1.2380, so traders should be aware of a third leg up. We see a nice bounce so far, currently with the price testing the upper channel line where a breakout can be coming which will open the door for a move up above 1.2600.
E-mini S&P500 stays in bullish mode for now; the currently making an extended blue wave five in 3 which can reach 261.8% extension target of wave 1, measured from wave 2 low. This is not far away, so traders should be aware of a limited upside and turn lower into a new corrective set-back; wave 4 as shown on the chart.
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