Daily forex market analysis
The euro pair rose against the dollar as we expected and achieved the goal of the rise, which is to break the top of wave A, now, will the rise continue or will the rise end?
If the rise is already over, the high of 1.1199 becomes the difference between the rise and the fall.
since the prices below this level become bearish and the drop is confirmed by a bottom fracture of 1.1037
In the following chart, we show the movement of the husband more
GBP / USD pair
As we explained in the previous analysis on 16-12-2019 that the husband in the event of the stability of the summit becomes to decline and indeed the pair fell
Now, does the decline continue, the decline currently depends on the stability of the top of 1.3517 in the event of this level being stable, we expect the decline for the next period, but by breaking this level, the rise may continue and we can see 1.4000 prices on the pair
GBP USD chart on the 240-minute time frame
We expect the bearish scenario on the dollar pair to fail, so it is preferable to wait and achieve one of the following conditions until we confirm the decline
We wait for the upside and touching the downtrend, then reversing with a five-wave until we confirm the end of the rise and the beginning of the decline.
Or we wait for the uptrend to break and close the down trend
The graph of the Yen dollar pair on the four-hour time frame
Australian pair AUD / USD
We also expected the Aussie pair against the dollar and the rise was expected, but how will the rise continue after breaking the top of wave A as shown in the graph?
Now the rise depends only on the stability of the wave 2 bottom at 0.6798 prices, the stability of this level continues to rise, but with this level broken we expect more decline and may break the main bottom
The chart for the Australian AUD / AUD pair on the 60-minute time frame
Always stay tuned for daily forex market analysis on our website BorseClub.