MG Network

our website isOn Vacation

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Wave analysis of GBP/USD for August 11. 75% of UK adults now fully vaccinated

analytics6113cd0fec2be.jpg

The wave counting for the Pound/Dollar instrument has become a little clearer recently. The instrument still made a successful attempt to break through the 23.6% Fibonacci mark, so the construction of a downward wave, presumably b, continues. However, the instrument remains inside a new upward set of waves, and a slow slide down is precisely the construction of a corrective wave. Therefore, I believe that the downward section of the trend is completed and has taken a five-wave form, and at this time, I expect the construction of at least three waves up. If this assumption is correct, then the increase in the quotes of the instrument will resume after the completion of the construction of the corrective wave b with the targets located above the peaks of wave a. The targets of the entire upward section of the trend are located near the maximum of wave e, that is, near the calculated mark of 1.4239. I expect the instrument to increase by another 200-250 points at least. I would also like to draw your attention to the fact that a new upward section of the trend may turn out to be impulsive since its first wave already looks very impressive.

The Pound/Dollar instrument fell by 35 basis points on Wednesday, after which it increased by 25. Thus, the pound still moved a little on Wednesday, unlike the euro, whose amplitude was 10 basis points. At the moment, the markets are waiting for the report on US inflation, and tomorrow it will be known how much the British economy grew in the second quarter of 2021. These reports can significantly affect the movement of the pound/dollar instrument. First of all, I am interested in whether these two reports will not violate the wave count, according to which the tool is already completing the construction of wave b. For the quotes to start rising within wave c, we should get weak news from the US and strong news from Britain. There is already one piece of good news from the United Kingdom. Today, Prime Minister Boris Johnson announced that 75% of the adult population of the country is fully vaccinated. This means that the UK may form a collective immunity against the coronavirus soon. Unless, of course, it is constantly being modified and mutated.

However, in any case, humanity lives side by side with a lot of viruses that regularly provoke diseases. The main thing is that people do not die from these diseases. This is exactly the result that total vaccination aims to achieve. From my point of view, the pound sterling has a good chance of building a new rising wave this week, although the fourth wave of the pandemic in the country has not yet ended: the virus continues to infect 20,000-30,000 of its population every day.

At this time, the wave pattern is more or less clear. The construction of the downward trend section is completed. I continue to count on the construction of a new upward trend section, so at this time I propose to consider buying the instrument for each MACD signal "up" with targets located near the 1.4240 mark, which corresponds to 0.0% Fibonacci. The instrument is still at the stage of constructing a corrective wave 2 or b, but the wave is weak and it is unlikely that the instrument will fall below the 1.3770 mark.

analytics6113cd16ceec7.jpg

The upward section of the trend, which began its construction a couple of months ago, has taken a rather ambiguous form and has already been completed. A new section of the trend can get an impulse form, its first wave has already acquired a sufficiently extended form and exceeded the peaks of waves b and d. The chances of a new strong increase in quotes are growing.

The material has been provided by InstaForex Company - www.instaforex.com