Wave analysis of EURUSD, GBPUSD, USDJPY on July 12.



The market continues to move within the framework of an upward correction wave (4), which, judging by the internal structure of this wave, has been transformed into a wave plane in which the wave C takes the form of a finite diagonal. Thus, the price is still expected to rise in the direction of the previous high, which formed wave A. As for the news, today at 15:30 Moscow time one should pay attention to the publication of data on the consumer price index for June. These data can have an impact on the market.



Apparently, the construction of the ascending impulse wave A continues, which is transformed into the shape of the initial diagonal, i.e. in a wave in which the end of the wave [4] falls below the end of the wave [1]. Now the wave [4] has already gone below the specified level, so it looks complete. As for its internal structure, it took the form of a zigzag, in which the middle part is a horizontal triangle. Since the development of momentum [5], most likely, has already begun, in the near future, the price may rise in the direction of the level - 1.337. Also, today we should pay attention to the report on the consumer price index in the United States.



Due to a sharp rise in prices, the layout has been adjusted. Apparently, now we see an upward impulse movement. The market forms a bullish impulse 3, the construction of which is in full swing. Thus, in the near future, a local price rise in the wave [iii] is possible, then a correction [iv] will be constructed. In general, most likely, growth will continue, periodically interrupted by the formation of downward or lateral corrections. In favour of growth, the situation is in the credit markets, where the yield of 10-year government bonds of the United States and Japan is growing, which can provoke an upsurge on USDJPY as well. In addition, Asian stock markets demonstrate rapid growth, this is a positive signal for the pair, so the rise today is very likely.


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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.


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