Hi, for this layout, the short is my standard short term (15 min) and the bottom is my standard long term (4 hours). The GBP is over extended on the short term and ready for a small consolidation/correction. The EUR is over extended on the long term and is finally ready for a long term corrective move. The EUR may give us one more push before the turn, but it will happen.
This is not investment advice, just my opinion(s). Please trade accordingly.
Whats your view on the uj pair.... usd seems over extended and seems to follow my abc correction from last week... is eu ready for correction
riffster21
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@steveb4088, Both the USD and JPY are at unity right now, so no real bias either way. The USD was over extended and should continue to consolidate, but the USD has been a little hard to guess lately :D