Wave analysis of EURUSD, GBPUSD, AUDUSD on December 19.

 

EUR/USD

Contrary to the previous expectations, we saw the continued decline in the currency pair within the downward correction wave (2). At the moment, this wave looks like a fully formed zigzag a-b-c, so today we may possibly see the beginning of the upward movement within the wave (3). However, taking into account the fact that no important macroeconomic statistics are expected to be released today, we are likely to see slow and gradual movements of the currency pair, so when buying, you should be extremely cautious, as the market may struggle to move from its place.

 

GBP/USD

Contrary to the expectations in the previous review, the currency pair quickly collapsed within the downward corrective wave [b] (shown in green), and now, according to the current setup, the development of a new upward impulse [c] began. Today, we are unlikely to see any tangible shifts in the movement of prices, but it is quite possible to see a gradual rise in the currency pair within the wave [c] of x. In such a situation, it is possible to open long positions with smaller volumes.

 

AUDUSD

As for the USDJPY, the ascending correction wave X was fully completed, and in the last section we saw the beginning of the downward movement within the new zigzag wave (marked in green). Now the market is in a corrective phase, and currently forms a small upward zigzag (a) - (b) - (c), which is shown in blue letters. After a small decrease in the wave (b), growth in momentum impulse (c) is possible. However, given that today we do not expect the publishing of any important macroeconomic statistics, the market is likely to move in a very slow manner.

 


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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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