Wave analysis of EURUSD, GBPUSD, AUDUSD on January 24.
Wave 4 was completed, and it took the form of a converging horizontal triangle. At the moment, we see a rise in the currency pair within the new bullish pulse wave 5. Today, we can expect a continuation of the growth of quotations, as In the European trading session, you can expect positive data on the index of Manufacturing PMI, as, on the eve of the ZEW index showed good growth. Secondly, the situation in the credit markets gives an advantage to bulls. Thus, in all likelihood, today the market is in an upward mood.
The currency pair continues to move within the framework of an upward impulse wave [v] of 3. There is a high probability that today the growth will continue. The main impact on the market will be data on average earnings in the UK. If the final indicator is better than the forecast consensus (2.3%), then we will see a good price increase, if the indicator is below 2.3%, then we should expect the price to go down or lateral correction, investors will begin to get profits on long positions.
The layout was changed, due to the continued growth of the currency pair. We saw a correctional wave 4 that took the form of a wave plane, after which the price rise continued within the bullish impulse 5. Most likely, today the rise of the currency pair will continue. An approximate diagram of the possible future movement is shown in the graph.
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