EUR/USD
The EUR/USD continued to decline down to 1.2828 in the past week, however it has also been a little above the 1.2990 level. That is why we can expect a rebound from wave A during this week. If EMA (50) is breached, we can expect a growth of EUR/USD up to wave D. If the macroeconomic news are positive, we can expect a stagnation of EUR/USD around wave A.
GBP/USD
Towards the end of last week the British Pound has adjusted its previous growth from wave B to wave A. This week we are expecting an imitation of the growth line above EMA (50) and growth between waves B and C. If the triangular level and wave A is breached, then we can expect a declining adjustment up to wave D.
USD/JPY
Due to positive news from the American labor market the USD/JPY has grown and wave B was surpassed up to wave A. There is evidence of slight resistance forming close to wave A. If this resistance holds, then we can expect the USD/JPY to get back to the long-term growing channel and EMA (50) value. Consecutively if EMA(50) is breached, then we can expect a declining trend up to wave C.
GOLD
Gold has continued its decline towards wave A in the past week. It is currently floating below the EMA (50). This week we can expect an adjustment towards wave C. The long-term prediction is one of steady decline, and if wave A is breached we can expect a fall below 1200USD.
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