30.01.201808:16 Forex Analysis & Reviews: The trade review for January 30 by simplified wave analysis

Review and Forecast for NZD / USD

Since November last year, the rate increase of the New Zealand dollar repeats a similar portion of the graph of mid-2017. Over the past two months, the New Zealand currency has gained more than 15% of the value, relative to the US dollar. And this is not the limit. Despite the fact that the pair's quotes are currently at the lower boundary of the large-scale potential reversal area, the structure analysis of the major trend wave indicates its resumption. Ahead of the price is nothing more than a correction. Taking into account the impulsive nature of the beginning of the main wave, counter motion can be limited to the course in the sideways flat.

Today, the price is expected to be in a flattened mood. Completion of the downward retracement lasted in the recent days and can be expected in the settlement support area. At the end of the day, the probability of a change in the exchange rate and the increase of the pair's price increases.

Boundaries of resistance zones:

- 0.7370 / 0.7400

Boundaries of support zones:

- 0.7280 / 50

Review and Forecast for AUD / JPY

Quotations of the cross pair Australian dollar / Japanese yen in the past six months prop up the lower boundary of the wide resistance zone of large scale. Followed by the unfinished wave plot for today, which can be considered a bullish pattern from November 27 last year. In the wave structure, the first part of the model (A) is completed. Since the beginning of this month, the price forms a descending section (B). Preliminary calculation shows the probability of the possible price reduction in the area of the price figure from the current rate.

Today, the highly expected scenario for the pair's movement will be "outset". The descending direction of oscillations indicates higher chance to be completed in the morning. By the end of the day, the possibility of a rollback increases. The framework of the flat corridor limits the calculated zones.

Boundaries of resistance zones:

- 87.90 / 88.20

Boundaries of support zones:

- 87.40 / 10

Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed.

The areas marked on the graphs are indicated by the calculation areas, where 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.

* The presented market analysis is informative and does not constitute a guide to the transaction.