Wave analysis of EURUSD, GBPUSD, USDJPY on March 14.
Over the previous trading day, the market advanced in the upward direction as part of the bullish correction wave (B). It is very likely that after a slight upswing the currency pair will unfold and a decline will begin. Investors see signs of political instability, and fear that Donald Trump will not be able to fully implement his election program, against this background we can see the growth of quotations in the first half of the trading day. Then at 12:30 GMT Time data on retail sales in the US for February will be published, against which the market can turn and begin to move in a downward direction, the growth of employment and the increase in the incomes of the population signal the release of positive statistics, which may provoke the strengthening of the dollar.
After the completion of the downward correction wave (x), we saw the initial part of the new uptrend, which is a combination of zigzags. Most likely, the price growth in the near future will continue, because the debt market negatively responded to Donald Trump's resignation of two of his assistants in the previous two weeks, the yield of 10-year US government bonds is falling against their counterparts in the UK. Thus, today the market can grow.
For the previous trading day, the currency pair declined after the announcement of the resignation of Donald Trump Secretary of State. However, at the moment the currency pair is in a favorable zone for opening long positions, because First, according to the current marks, the wave x was completed, and secondly, some time after the resignation, investors usually build up long positions on the shares, which provokes the growth of the USDJPY currency pair. Thus, today the market can grow.
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