Wave analysis of EURUSD, GBPUSD, USDJPY on May 21.

 

EUR/USD

On the first trading day of the week, the market began to move quite rapidly in a downward direction. It is possible that waves 1 and 2 of the downward pulse were fully constructed, and now bearish impulse wave 3 is developing. If the assumption is true, then in the nearest trading week we will see a downtrend. It should be taken into account that today important macroeconomic statistics are not expected, therefore smooth movements in the market without sudden jumps are possible.

 

GBP/USD

After completion of the formation of the downward pulse [i], we saw a small upward correction, which, as now becomes clear, takes the form of a wave [ii]. Thus, the probability is high that now we see a decrease in the composition of the bearish wave [iii]. If the assumption is true, then we will see a price reduction throughout the upcoming trading week.

 

USD/JPY

Apparently, the assumption that the market is forming the final diagonal was not true. However, the idea of a finite diagonal helped to draw correct conclusions about the price movement in the short term. Today, the layout has been revised in favour of an option more relevant to the current situation. It is very likely that now the wave [v] of 3 is being constructed, after the complete completion of which, we will see the development of correction 4. An approximate scheme of the possible future movement is shown on the graph.

 

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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