Wave analysis of EURUSD, GBPUSD, USDJPY on May 28.

 

EUR/USD

It is assumed that the construction of a long downtrend has been completed. In the last section, we can see the beginning of an upward trend. If the assumption is correct, then after a small downward correction, we will see the market growth within the upward correction or a new bullish trend. It should be taken into account that today in the UK and in the US Bank output, so it is not expected important macroeconomic statistics and the market may well form a wave of lateral nature.

 

GBP/USD

It is very likely that an upward correction wave [iv] was built, after which we saw the beginning of the construction of the downward zigzag [v]. It is likely that the downward movement will continue today. However, given the UK and US Bank holidays, high volatility should not be expected. Rather, we will see very slow price movements.

 

USD/JPY

Apparently, we saw the development of the upward correction wave (b), which takes the form of a triple zigzag. Most likely, during the upcoming trading week, the market growth within this corrective wave will continue. It is recommended to trade very cautiously in the framework of a correctional wave.

 


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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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