Wave analysis of EURUSD, GBPUSD, USDJPY on June 22.

 

EUR/USD

Apparently, the market is not yet ready to decline. It is likely that at the moment the upward correction wave (4) is still forming, which can take the form of a wave plane. If current setup is correct, in the near future we will see the market rise. All attention should now be paid to the OPEC summit in Vienna. However, as key players come up with opposing initiatives, and the trade agreement itself will be announced tomorrow, it is likely that we will not see very rapid movements today.

 

GBP/USD

In connection with a sharp rise in prices in the last sector, it became clear that a new upward wave is forming, which can be a wave (C) of the wave plane [B]. Thus, if the assumption is true, in the near future we will see the market rise, as indicated on the chart. Given that the Bank of England has supported the pound, as well as the fact that there is a growth in quotes on the oil market, a rise in GBPUSD is more than likely today. There is a possibility that the OPEC summit will also have a positive impact on the movement of oil quotes, which will also help strengthen the British currency.

 

USD/JPY

USDJPY has complicated situation. The market alternately forms those ascending or descending movements. Judging by the structure of the last section, we can assume that the wave [x] is not yet complete, and that it takes the form of a wave plane. Now the price decreases in momentum (C) of [x]. It is likely that today the downward movement will continue. Due to the lack of important macroeconomic statistics during the day, volatility may be low.

 


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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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