Wave analysis of EURUSD, GBPUSD, AUDUSD on December 14.
Exactly in accordance with the previous review, the development of the downward correction wave [B] was completed, and in the last section we saw the beginning of a new upward trend within the bullish impulse wave [C]. It is likely that the currency pair will continue to grow today. Also, it should be noted that the debt market is experiencing an increase in the yield of 10-year government bonds of Germany in relation to its counterparts from the US and the UK, it will now support the Euro. Even today, the press conference of the ECB will be held, during which Mario Draghi can note the growth of inflation expectations against the background of increasing the cost of energy and employment, which can continue to reduce the QE program in 2018, this fact can also strengthen the Euro. Thus, a number of factors today indicate a possible upward trend in EURUSD.
Exactly in accordance with previous reviews, the development of the downward correction wave (B) was completed, and immediately after that we saw the beginning of a new bullish momentum (C). According to the wave picture of the current site, the growth can be continued in the near future. We are confident that we will see an upward trend in the fact that we can expect positive data on retail sales in the UK against the background of increasing incomes of the population. Also, in the afternoon, the Bank of England will announce the results of the meeting on monetary policy, where you can expect comments on high inflation in the UK, and interest rates can be raised. This, in turn, can lead to an increase in quotations of the British currency. Thus, today an upward trend is possible.
As expected, the development of the downward zigzag wave z was fully completed, after which we saw the first rapid upward momentum. Most likely, at the moment only the beginning of the bull wave is formed. Thus, in the near future it is possible to continue the upward trend within the bullish momentum (5). In the current situation, it is possible to open long positions.
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