Wave analysis of EURUSD, GBPUSD, AUDUSD on December 22.

 

EUR/USD

The formation of the correctional wave 2 began somewhat earlier than expected initially. So far only the first part of this wave was built, but we have already seen a rather complex correction form of this wave. Most likely, today such a complex movement in the descending or lateral direction will continue. It should be noted that today is the last day before the Christmas holidays, hence liquidity in the market will be low, which is exactly what contributes to the construction of waves of complex correction forms. However, the currency pair may jerk dramatically during the publication at 13:30 GMT of the U.S. data on the change in the volume of orders for long-term goods for November, so at this time, one should be particularly careful.

 

GBP/USD

As expected, the development of the first downward impulse [a] as part of the descending zigzag z was totally completed. At the moment, an upward correction wave [b] is developing, after which the movement in the downward direction will continue. Today in the UK there will be a release on the balance of payments for the third quarter at 09:30 GMT, at which time the correction wave [b] may be completed, and a decline in the downward momentum may begin. This is to be expected, because in the past, the construction of correctional waves was often interrupted during the release of important news statistics.

 

AUDUSD

Exactly in accordance with the previous review, we saw the completion of the development of the lateral correctional wave [iv], and the beginning of the rise of the currency pair within the framework of the new bullish impulse [v]. Moreover, now we can say with confidence that the wave [iv] has taken the form of a sufficiently harmonious and regular triangle from the point of view of wave analysis. Most likely, today this growth will continue, but the price is unlikely to go very far. Those. It may be too late to open long positions in this situation, since apparently, we will soon see the beginning of the formation of a new downward correctional wave (2).

 


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