Wave analysis of EURUSD, GBPUSD, USDJPY on June 08.

 

EUR/USD

It is assumed that after the construction of the downward correction wave (2) was completed, the market began to move up within the upward impulse wave (3).Thus, in the near future it is possible to continue the rise of the currency pair. In favor of this scenario, the situation on credit markets shows that the yield of 10-year German government bonds is growing in relation to its counterparts from the US and the UK. Given that today is not expected important macroeconomic statistics, the market will move gradually and without sudden jumps.

 

GBP/USD

The currency pair completed the development of the upward impulse wave c of (y), after which the construction of the lateral correction (xx) began. Most likely, in the near future the market will continue the formation of this wave, and after its complete completion, the market will continue to grow within the next rising wave. Also, in the debt market there is an increase in the differential yield of 10-year government bonds of the UK and the US, which will support the pound. Secondly, oil also increased on Thursday, which is positive for the pair GBP USD.

 

USD/JPY

After completing the construction of the upward correction wave X, we saw the initial part of the downward trend. Apparently, the decline will continue in the near future. Thus, to consider the purchase of the current site is a very dangerous occupation. It should also be taken into account that today there is no important macroeconomic statistics, so the market will not make sudden movements.

 


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.