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The Dollar Index (USD) seems to be completing a possible pattern which could cause weakness. Given that said, the EUR/USD and GBP/USD also seem to be synchronized with that possibility, showing probabilities of rallies in a sustained impulsive manner.
With the USD/JPY showing a decline in the previous trading sessions, it may have entered a bearish territory, which could be a bit difficult to overcome.
Precious Metals have proved to shine in the second trading week of October, with XAU/USD and XAG/USD rising towards what appears to be a bullish sequence.
This week, the US & EU Indices managed to recover some of the sudden losses caused by the VIX spike and volatility impact.
The wave counts presented below are labeled under the presumption that the USD could get softer, while the EUR, GBP, and Metals could extend their gains further.
Most of the charts below are taken from the 2H or 4H time-frames, however, for a larger picture, one could see the previously posted “3rd Quarter Hig...
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