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EUR/USD
On the euro chart, the main rate of movement in the last year and a half is set by a bearish wave. Since August 1, a bullish wave zigzag has been developing towards the main rate, the potential of which allows claiming the place of correction of the last section of the trend. In the last 2 weeks, the correction has been developing. There are no reversal signals on the chart. The price hit a strong support level.
Forecast:
Today, the most likely scenario of the movement will be the general flat mood. In the first half of the day, an upward vector of oscillations is expected. The maximum level of probable rise is limited by the resistance zone. A change of rate can be expected by the end of the day.
Recommendations:
Buying the euro today can be risky, therefore it is better to reduce the lot. It's safer to stay out of the market. At the end of the upcoming rollback, it is recommended to monitor the instrument's sell signals.
Resistance zone:
- 1.1160/1.1190
Support zone:
- 1.1090/1.1060
AUD/USD
Since the beginning of last year, the Aussie chart has been dominated by a bearish trend. Within its last section, a bullish correction has been formed since August 7. The first 2 parts (A + B) are formed in the structure of motion.
Forecast:
Today, in the morning, the most likely scenario of the movement will be "sideways", with a gradual increase in the range of volatility. An attempt to put pressure on the support area can be expected before starting the ascent.
Recommendations:
Today, short-term purchases of the pair within the intraday will be more promising. For supporters of longer trades, it is more reasonable to refrain from trading during the current correction and try to enter into short trades at its end.
Resistance zone:
- 0.6840/0.6870
Support zone:
- 0.6760/0.6730
GBP/JPY
After the cross bullish correction, which ended on August 13, the price began to form the beginning of a new wave in the main trend direction. The structure of the reversal model is incorrect, with an elongation of the middle part (B).
Forecast:
During the current day, it is expected to complete the upward phase of the price movement, the formation of a reversal and the beginning of a price decline. A puncture of the upper boundary of the resistance zones when the changing rate is not excluded.
Recommendations:
Purchase of the pair is risky and unpromising today. In the area of the resistance zone, it is recommended to monitor the signals of the instrument sale.
Resistance zone:
- 129.30/129.60
Support zone:
- 128.40/128.10
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.
Attention: The wave algorithm does not take into account the length of time the instrument moves.
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