Wave analysis of EURUSD, GBPUSD, USDJPY on April 20.
Most likely, a wave [iv] of diagonal was constructed, after which the formation of a new ascending zigzag [v] is expected. Thus, according to the current layout, a price increase is possible. Also, in the absence of important macroeconomic statistics, attention should be paid to the dynamics of the debt market. The yield differential between the 10-year government bonds of Germany and the US demonstrates growth, this is a positive signal for EURUSD, which increases the likelihood of an upswing in prices today.
The market forms a much sharper downward correction wave (B) than was originally intended. It is possible that at the moment this correction is close to its end, and after a local decline, the pair may start to rise. In addition, in the credit markets, the yield of 10-year UK government bonds is growing relative to its counterparts from the US and Germany, it can also help start the rise in the bull wave.
The market continues to move within the framework of an upward triple zigzag [Z], forming its final part. Now we see the impulse (C) of [Z], after the completion of which a new downtrend will begin. In addition, the growth of US Treasury bonds caused the expansion of the differential of US / Japan indicators, it will also provoke USDJPY growth on the nearest trading day.
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