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Overview of GBP / USD with the current day forecast
At the end of the rising wave of the major of the British pound sterling, which sets the direction of the trend since October of last year, the first part of the counter wave structure is formed. The wave level of the downward wave from September 15 exceeds the correction size of the last section of the trend.
Since October 6, the price has started to work out the middle part of the wave zigzag. The preliminary calculation of the probable completion site allows you to expect the pair to move upward, at least 2 price figures.
After a period of 2-day correction, the price is at the top of the wide support area of a large scale.
The upcoming trading session should become the instrument for the time of changing the direction of the session trend. The active phase of recovery is expected in the second half of the day. The breakthrough of the upper boundary of the resistance zone is not ruled out today but is more likely in the next days.
The boundaries of the resistance zones:
- 1.3310 / 40
The boundaries of the support zones:
- 1.3240 / 10
Overview of EUR / JPY with a forecast for the current day
Since mid-April, the price trend of this cross pair is moving up. This section completes the ascending wave zigzag of a larger model, which explains the predominantly impulsive character of the current ascent. The preliminary calculation indicates the expected progress up to the target area in the region of 5 figures.
Since the middle of last month, the pair has been adjusted. The structure of the wave can be traced quite distinctly. Last week, the final stage started. Calculating the reduction potential allows you to wait for the price, at least at a price figure below the current values.
Today, in the first half of the day, the flute tone of the oscillations, with an ascending vector is more likely. Towards the end of the day, from the border of the resistance zone, a turn is expected and the course of the price continues downward.
The boundaries of the resistance zones:
- 132.20 / 50
The boundaries of the support zones:
- 131.30 / 131.00
Explanations to the figures: For simplified wave analysis, a simple waveform is used that combines 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. On each considered time frame the last, incomplete wave is analyzed.
The areas marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a trade transaction, you need to confirm the signals of your trading systems.
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