One leg lower in eur gbp NZD? - Biggest reason is USDJPY- other Majors are moving to weaken USD so not pull the bottom out of all Yen pairs at sametime-- but a big drop should come once more short USD bag holders (Longs in GBP and EUR) in place ;) USD JPY dropping nicely in its wave 3 (obviously MM was planning to drop USD JPY Fiercely- lots of supply)
Which brings us to our biggest question-- still lots of supply in EUR/NZD GBP/NZD- Market should need a large counter swing to remove this and accumulate it all ( look at the 700 pip range lots of pips on table for both pairs) and much higher than normal volume past three days and still in range suggests swing move.
