Wave analysis of major pairs

5 March, 2018

EUR/USD

Most likely, the market formed an upward impulse 1, and in the last section we see the beginning of the construction of a new downward correction wave 2. Thus, today it is possible to correct a decline in the currency pair. In favour of this scenario says the fact that in the debt market, the yield differential of 10-year government bonds of Germany and the US demonstrates a decline, it contributes to bearish sentiment. And also, the Friday release on the confidence index from the University of Michigan, in conjunction with the reduction in applications for unemployment benefits, signals the release of strong data on Non-Farm, which also will help reduce the currency pair. In this regard, today it is possible to open short positions.

GBP/USD

Most likely, we now see the construction of a small correction wave 4, after which completion, it is expected to form another downward impulse 5. Thus, in the near future, the probability of a decline is high. In addition, there is a negative dynamics in the credit markets, the yield of 10-year government bonds of the United Kingdom is declining relative to its counterparts from the US and Germany, which is a negative factor for the Pound. In this regard, today it is possible to reduce the price in momentum 5.

AUD/USD

Judging by the structure of the last section, the downward corrective wave B still may not be complete. Most likely, now we see the beginning of the construction of the downward impulse wave C, within which the currency pair will move forward today in a bearish direction. And given the fact that wave C will take an impulse character, we can see a fairly rapid fall. In this situation, it is possible to open short positions.


Source link   Presented by Arum Capital

EUR/USD has a bullish sentiment

The EUR/USD quotes are consolidating around 1.14850-1.15000. 1.14600 acts as mirror support. EUR has prospects for further growth. Investors...

Technical picture remains ambiguous

The quotes are consolidating, the EUR is testing the local support and resistance levels 1.13700 and 1.14000. The financial market participants...

EUR/USD is showing a positive trend

The quotes grew by 80 points and set the new monthly maximums. The USD is under pressure due to weak economic reports and political stress...


EUR/USD had a variety of trends

As expected, the regulator increased the key interest range by 25 basis points up to 2.50%. However, the investors were disappointed to hear the key...

EUR/USD surges further beyond 1.1400

The post-FOMC USD bounce turned out to be short-lived and helped regain traction. The latest optimism over Italy's budget compromise further...

USD strengthened against the majors

The USD index (#DX) updated the annual maximums. On Friday, December 14, EUR/USD saw an aggressive sell-off. The quotes fell by more than 80 points...


EUR/USD consolidates around 1.13400

The financial market participants are evaluating the results of the ECB meeting. The regulator, as expected, kept the fundamental parameters of...

EUR/USD is in a bullish mood

Yesterday, the quotes grew by more than 80 pips. The USD is under pressure due to the weak inflation reports. Positions should be opened from...

Dragged down by marked divergence

A range of prominent ECB speakers today including Draghi in front of the EU parliament could set the scene for ECBs next draw and provide EUR with...

  


Share: