Wave analysis of EURUSD, GBPUSD, AUDUSD on January 30.
The descending correctional wave, forming on the last section, is becoming larger and larger. It can already be concluded that this correction is not a part of the upward impulse.5 Most likely, we see a correctional wave of a larger wave level, so today, for a currency pair, the way is open in a downward direction. However, trade decisions should be taken with great care, because the current correction can take the form of almost any correctional model, including a lateral one. It should be noted that today at 13:00 GMT Time in Germany, the consumer price index for January will be published, this news may have an impact on the course's progress.
The correction wave 4 takes the form of a larger wave than was originally intended. Perhaps even, it will consist of several descending zigzags. Anyway, today the main scenario of price movement is the downward trend. The dynamics of the debt market also speaks in favour of this. The yield of 10-year UK government bonds falls against its counterparts from the US and Germany, which contributes to a decrease in GBPUSD.
The currency pair moves in the downward direction in the last section. Now it is already clear that we see the construction of a deeper bearish correctional wave than was originally intended. Most likely, there is a development of the wave B of the global zigzag, within which the wave A has already been fully constructed. Thus, for the bears, the way is open in a descending direction.
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