Trading Conditions
Products
Tools
EUR/USD
The last unfinished construction on the chart of the European pair is bearish, counting from June 25. In its structure, since July 5, a counter wave has been forming, which shows signs of completion. The decline that began yesterday has an unconfirmed reversal potential.
Forecast:
Today, the most likely scenario will be a general flat mood. In the first half of the day, repeated pressure on the calculated resistance zone is possible. Then the reversal and the beginning of the downward price movement are expected.
Recommendations:
Today, it is wiser to refrain from buying euros or reduce the lot used. In the area of resistance, it is recommended to track the reversal signals to enter a short position on the pair.
Resistance zone:
- 1.1280/1.1310
Support zone:
- 1.1230/1.1200
AUD/USD
The last unfinished wave model on the "Aussie" chart is ascending, from May 21. The bearish wave that started on July 4 does not go beyond the correction. A counter pullback has been developing in it in recent days.
Forecast:
The most likely scenario today will be the price movement in the range between the opposite zones. The next session is expected to complete the upward mood of the movement. By the end of the day, the chance of a change in course and the beginning of a decline increase.
Recommendations:
When buying the pair today, it is necessary to take into account the limited potential of price rise. In the area of the resistance zone, it is recommended to monitor the signs of a reversal, to find the signal of the instrument sale.
Resistance zone:
- 0.7020/0.7050
Support zone:
- 0.6960/0.6930
Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show areas with the highest probability of reversal. The arrows indicate the wave marking according to the method used by the author, the solid background is the formed structure, the dotted ones are the expected movements.
Note: The wave algorithm does not take into account the duration of tool movements over time.
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.