Wave analysis of EURUSD, GBPUSD, USDJPY on November 23.
In accordance with the previous review, the market began to move rather quickly upwards within the framework of the impulse wave (v) of [iii]. It should be noted that today is Thanksgiving Day in the US. Usually, during this period there is calm trading in the markets. Of the important news: today will see the release a report from Markit on the index of business activity in the industry of Germany. However, we are unlikely to see the same rapid price movement as in the last 24 hours. Most likely, in the near future the development of the impulse (v) will be completed, after which the formation of lateral correction will begin [iv].
In this situation, it is possible to open long positions, since the development of an upward impulse wave (3) began, and usually this wave is the most prolonged and powerful. In addition, there is a positive trend in the debt market that can support the pound. The yield of 10-year UK government bonds is growing relative to its counterparts from the US and Germany, and this in turn increases the attractiveness of investments in British assets.
In accordance with the previous forecast, for the past day we saw the formation of a powerful downward impulse wave [c] of Y. At the moment it looks to be fully completed, so, most likely, the development of ascending or lateral correction of XX will begin. This currency pair is strongly influenced by capital flows in the stock markets. And the stock market in the US is closed today, besides, tomorrow will be "black Friday" and the market may experience low liquidity, so, apparently, we can expect to see either a smooth corrective growth, or a side flat.
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