Wave analysis of EURUSD, GBPUSD, AUDUSD on March 05.

 

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.

 

AUDUSD

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.

 


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.