Stay 
Trading Conditions
Products
Tools
Review and forecast for GBP / USD
The major currency British pound continues to recover its rate, after the previous period of 2-year decline. The rising wave that began in October 2016 was able to form a new trend. Counter-moves only create short-term corrections within the main wave. After its completion, the ascending wave goes to a higher wave level.
The last unfinished short wave for today is regarded as a hidden bearish correction, which started in mid-September last year. The final part (C) is formed since January 25. Evaluating the type of wave structure, the probable completion zone of the entire correction will be approximately in 2 price figures below the current price of the GBP/USD pair.
The next session is expected to end the price rollback upwards. Traders can expect for a reversal within the resistance zone. The price could possibly move down at the end of the day or the next day.
Boundaries of resistance zones:
- 1.3900 / 1.3930
Boundaries of support zones:
- 1.3800 / 1.3770
Review and Forecast for AUD / JPY
After reaching the cross-currency potential reversal zone in July last year, the pair's price in the longer term has selected the sideways trend as its main direction. The structure of the correctional wave has not yet been formed. The nearest calculated zone of probable completion is approximately in 3 price figures below the current rate.
On the hourly scale of the pair's timeline, the last unfinished construction was the bearish wave of January 17. The movement has reached the price zone formed around the support level of the large scale. In the upcoming trading sessions, we can expect for the formation of a corrective recovery.
The possible area for completing the upward trend demonstrates the resistance zone. A flat mood is possible during the first half of the day.
Boundaries of resistance zones:
- 85.80 / 86.10
Boundaries of support zones:
- 85.00 / 84.70
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.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
