Forex Analysis
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Wave analysis of GBP/USD on August 13. Pound Does Not Show any More Signs of Desire to Rise. Markets do not See the Mess in the US as a Reason to Sell USD Again

The wave structure of the upward trend section, which started on March 20, looks quite complete and has taken the form of a triple zigzag. The last wave Z may complicate its internal structure, however, I would not recommend considering this option as a working one, until a successful attempt to break through the 0.0% Fibonacci level.
by Jeff Wecker
Forex Analysis
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Analysis of EUR/USD and GBP/USD for August 12. Donald Trump: The Number of Cases of Coronavirus is Growing Due to Mass Testing of the American Population

On August 11, the EUR/USD pair lost only a few basis points and thus continues to build the expected first wave of a new downward trend section. The wave structure of the upward trend looks fully completed, which increases the probability of continuing the decline of the instrument with targets located near the 23.6% and 38.2% Fibonacci levels.
by Jeff Wecker
Forex Analysis
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Analysis of EUR/USD and GBP/USD for August 11. European Investors are Optimistic About the Future; Unemployment in the UK is Pleasantly Surprising

On August 10, the EUR/USD pair lost about 50 pips and thus, it continued to build the assumed first wave as part of a new downward trend section. If this assumption is correct (and the wave structure of the ascending part of the trend looks fully completed), then the decline in quotes will continue in the near future with the first targets located near the level of 23.6% and 38.2% Fibonacci.
by Jeff Wecker
Forex Analysis
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Analysis of EUR/USD and GBP/USD for August 10. Donald Trump is at Odds with Congress. The US Dollar is Not Reacting yet and Continues to Recover

On August 7, the EUR/USD pair lost about 90 basis points, so there is more and more confidence that the wave 5, 5, C, B is complete. If this assumption is correct, then the decline in quotes will continue within the new downward set of waves with targets located near the Fibonacci levels of 23.6% and 38.2%.
by Jeff Wecker