Wave analysis of EURUSD, GBPUSD, AUDUSD on December 28.
The market continues to move within the framework of an ascending zigzag wave z of (x), and the wave is in full swing, growth is therefore likely to continue today. The fact that there are positive dynamics for the euro is also a factor in favor of this upswing, since the yield of 10-year government bonds of Germany is growing relative to its counterparts from the United States and Britain. Additionally, at the current moment we can see growth in the quotations of gold and oil, which is also positive for the euro. In this regard, today it is possible for the currency pair to continue its rise.
The market continues to form an upward wave D, which is the penultimate part of the converging horizontal triangle. It is very likely that today, this rise will continue because the wave does not yet look fully complete. In addition, the oil market can provide additional support to the currency pair, due to the correlation between Brent and GBP/USD. Thus, today it is not recommended to consider the opening of short positions.
For this currency pair, we see the strongest, most powerful, beautiful and fastest trend. This is the most favorable situation for trade. Bulls have a lot of strength and they are successfully moving the price upwards. Currently, there are no signs of a completion or change in the trend. In this regard, today the growth is likely to continue. Therefore, in the current situation, it is possible to open long positions.
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