Wave analysis of EURUSD, GBPUSD, AUDUSD on February 20.

 

EUR/USD

Most likely, the descending correctional wave 4, which takes the form of a simple zigzag, is coming to an end. It is very likely that after a small downward movement, the entire wave 4 will be fully completed, then we will see the beginning of the upswing in the new upward momentum 5. It should be noted that the ZEW index in Germany demonstrates a positive trend in the last few months, and taking into account the acceleration of economic growth euro zone, it is likely the continuation of the uptrend.

 

GBP/USD

It is very likely that the descending correctional wave [iv] is coming to an end, therefore in the near future the market may rise within the framework of a new bullish impulse wave [v]. Today, the dynamics of credit markets will influence the course of trading. The US government bond market began its work after a long weekend, now it is necessary to wait for the opening of the London session at 08:00 GMT Time. If the yield differential for 10-year UK / US government securities will grow, this will support the current mark-ups and will help increase the price.

 

AUDUSD

Most likely, the construction of the downward corrective wave (ii) was completed, and in the near future we can quite see the rise of the currency pair within the new bullish momentum (iii). Thus, in the current situation, it is possible to open long positions.

 


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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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