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Overview of USD / JPY with the current day forecast
The entire current year, the Japanese yen major quotes adjust the previous trend segment. The wave has a pronounced flattened character and is still incomplete. The last section of the traffic, dated September 8, forms the main direction for intersessional price fluctuations. In the structure of the wave, it forms the correcting part (B), after which the final phase of the wave (C) should be awaited.
As part of the current recovery, the pair's price reached a potential reversal zone. Judging by the incompleteness of the wave structure, this zone will become intermediate. The probability of a downward rollback from it is quite high.
Today, after an active phase of recovery in the Asian session, the price counterweight is expected. The lower boundary of the day's turn of the pair should limit the calculated support zone.
The boundaries of the resistance zones:
- 113.30 / 60
The boundaries of the support zones:
- 112.70 / 40
Overview of USD / CAD with a forecast for the current day
When you look at the daily chart of this tool, from the beginning of this year, a distinct descending zigzag is tracked. Since the beginning of May, the final stage of the downward wave, unfinished to this day, has started. From the intermediate support zone, within the last segment of the movement, an ascending rollback is formed from September 8. Its structure is in the stage of formation of the middle part of the wave (B). The preliminary calculation of the target recovery zone allows you to wait for the price move, at least 2 price figures up from the current level.
Beginning at the end of last week, the upward movement and subsequent decline formed a reversal construction, preceded by a new price jerk.
Today, the most prone is the flat mood of price fluctuations, mainly with a descending vector. The pre-rollback completion zone is within the support zone. At the end of the day, a sharp surge of volatility and a breach of the upper limit of the resistance zone are not ruled out.
The boundaries of the resistance zones:
- 1.2520 / 50
The boundaries of the support zones:
- 1.2470 / 40
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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