Wave analysis of EURUSD, GBPUSD, AUDUSD on March 02.

 

EUR/USD

Yesterday the downward impulse C was totally completed, which marked the completion of the corrective wave (4). From this it follows that the development of an upward impulse wave (5) has already begun, within which a rise in the currency pair is possible in the near future. Thus, in the current situation, it is possible to open long positions.

 

GBP/USD

It is very likely that the construction of a long corrective wave 4, which took the form of a triple zigzag, was completed. Thus, in the near future, we can quite see the beginning of a new impulse trend 5, within which the market will move the next two weeks. It should be noted that today in the UK there will be a number of important events, one of them - the publication of the PMI index for the construction sector for February. Likewise, Teresa May and Mark Carney will deliver speeches, which can significantly influence the market and accelerate price growth.

 

AUDUSD

Most likely, we saw the total completion of the downward corrective wave B, so in the near future the market can start moving in an upward direction, forming a trend C. If the assumption is true, then in the last section we see the first small upward impulse 1, and after forming a small correction to the growth of the currency pair will continue. Thus, with the continuation of the ascent, it is possible to open long positions.

 


Do you want to practice and test the analyst's assumptions? Open a demo account in ARUM Capital!

If you are confident in your abilities and consider the risks, you can open a real account for trading.

Open a demo account   Open a real account

 

 


 

Care. The provided market analysis materials are a professional opinion of an associate of ARUM CAPITAL. These materials are provided for infomation purposes only. In no way can the provided analysis be considered as an action signal, neither is it any sort of investment advice (for the purposes of EU Directive 2004/39/EC). ARUM CAPITAL waives any liability for the trading results which may arise after using these reviews. These materials contain NO warranties or guarantees, either direct or implicit, on the precise, complete or confirmed character of the details they contain.

 

Thank you! Your request has been sent. Our team will contact you shortly.