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Review and forecast for USD / CHF
In the last six months, the Swiss franc major pair formed an upward wave on the chart. The probable preliminary calculation indicates the local high of the region of December last year in the area of the graph as the goal.
The upward price movement that started since December has a potential to exceed the size of the previous bearish wave pullback. It can be argued that correction (B) of the main wave has been completed. Since December 8, the price has been decreasing and forms a pullback.
In today's morning, the probability of an upward rebound is high. The upward swing will limit the resistance zone. Towards the end of the day, a turn is expected as well as a second decline. Traders must wait for the completion of the entire descending section of the movement in the support zone.
Boundaries of resistance zones:
- 0.9920 / 50
Boundaries of support zones:
- 0.9870 / 40
Review and forecast for USD / JPY
On the daily scale of the Japanese yen major currency chart, the last unfinished construction was the descending wave of December 15 last year. The wave develops mainly in the lateral plane. An analysis of its structure shows the development of the middle part of the movement (B). The ascending section started on September 8, which should complete the previous phase of the wave model. Calculation of the potential of the price move allows waiting for completion within the next upper zone of the potential reversal, which is the lower limit within the price shape.
In the course of the next trading sessions, the end of a downward rollback and a change in the exchange rate are expected. The increase in volatility and growth of quotations will more likely happen at the end of the day.
Boundaries of resistance zones:
- 114.20 / 50
Boundaries of support zones:
- 113.30 / 113.00
Explanations of the figures:
For simplified wave analysis, a simple waveform is used that combines 3 parts namely A, B, and C. All types of correction are created and most of the impulses can be found in these waves. Every time frame is considered and the last incomplete wave is analyzed.
The areas marked on the graphs indicate the probability of a change in the direction of motion has significantly increased as calculated in the areas. Arrows indicate the wave counting following the technique used by the author. A solid background of the arrows signifying the structure has been formed while the dotted one means the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the movement of tools in time. The forecast is not a trading signal! To conduct a bargain, you need to confirm the signals used by your trading systems.
Díky analytickým přehledům společnosti InstaForex získáte plné povědomi o tržních trendech! Jako zákazníkovi společnosti InstaForex je Vám k dispozici velký počet bezplatných služeb umožňujících efektivní obchodování.
