Wave analysis of EURUSD, GBPUSD, USDJPY on April 19.
Apparently, we see not the initial part of a new upward impulse trend. Judging by the structure of the waves, another correction section is formed, which takes the form of an ascending zigzag ABC of (B). Most likely, waves [iv] and [v] of C will be built in the next few days. After the rising wave is fully completed, a decrease in the impulse (C) may begin. Today, most likely, in the market there will be quiet movements, t. there is practically no important macroeconomic statistics. And the data that will be published today, is unlikely to have a significant impact on the market.
As expected, we saw the beginning of the construction of the descending correction wave (B). Judging by the shape of this wave, it will take the form of a deep correction. It could be a simple zigzag. If the assumption is true, in the near future we will see the development of the downward impulse A, after which the ascending correction wave B will begin to build. Against the background of the upward trend in the black gold market, the development of bullish correction B may begin soon. Usually these two instruments have a strong correlation between themselves. Today we should pay attention to the publication at 15:30 of data on the change in the volume of retail trade taking into account the cost of fuel, during the release of this news, the movement of a currency pair can be accelerated.
The market continues to move within the final upward impulse wave (C) Of [Z]. In this connection, today the probability of growth of a currency pair Take into consideration that the last wave of the ascending zigzag [Z] is now forming and the last part of the ascending triple zigzag. In this regard, the market may have little power to move in an upward direction. Therefore, the wave (C) can take the form of a finite diagonal and end in the region of the maximum formed by the wave (A) of [Z].
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