Wave analysis of EURUSD, GBPUSD, AUDUSD on January 15.
During the previous trading days, the currency pair showed a very powerful upsurge within the upward impulse wave (v). It is unlikely that such a rapid bullish impulse will end abruptly. Most likely, the potential of bulls has not yet been spent, and today the price will continue to rise, then the market will begin forming a corrective wave 4, which, most likely, will take the form of a long side flat.
As expected in the previous reviews, we saw an uptrend in the currency pair within the bull 5 wave, but this rise was even more powerful than one might have expected. It is very likely that today the upward trend will continue, on the debt market, a positive situation for the pound: the yield of 10-year UK government bonds is growing relative to its counterparts from the US and Germany. In this situation, you can not yet close long positions.
The market continues to grow in a swift manner, forming an upward impulse wave (v). The graph shows a detailed marking of this wave. Most likely, today the price growth will continue within wave 3, marked in red, after which a large corrective wave 4 will be built, then the growth will resume. Thus, it is possible to open long positions in the current situation.
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