Wave analysis of EURUSD, GBPUSD, USDJPY on November 22.
It is assumed that the development of the downward corrective wave (iv) was completed, which took the form of a double triple. Today, it is possible for the currency pair’s price to start rising within the bullish impulse (v). In support of the fact that impulse movements are possible today is also the fact that a number of important news will be released in the US. At 13:30 GMT time, data on changes in the volume of orders for long-term goods will be published, as well as data on the number of initial applications for unemployment benefits. And at 19:00 GMT time we will see the release of the minutes of the Fed meeting. All these news can help increase volatility in the market and the emergence of sharp impulse movements. This should be taken into account when making trading decisions.
It is very likely that we see the formation of the beginning of a new uptrend. Thus, in the near future the market can continue bullish movement in the form of an impulse wave (3). Taking into account the fact that today in the US a number of important news will be published, sharp and rapid movements are possible in the market. And if these news turn out to be negative for the dollar, we may see good growth in the currency pair.
In accordance with the previous review, the development of the ascending correction wave [b] has been completed, after which we saw the beginning of a new downward movement within the impulse [c]. There is a high probability that today, we will see the descending movement of this currency pair. And given the fact that today in the US will be published a number of important data, the market may fall quite quickly in the direction of the level - 111.4.
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