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EUR/USD
Analysis:
On the chart, the formation of the upward plane from September 3 continues. The wave structure looks formed. The wave reached the minimum possible elongation. There are no signals of a rate change.
Forecast:
There is a high probability of formation at all levels of the correctional area. Today, the general downward vector of movement in the area of settlement support is expected. A return to the upward rate can be expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.1050/1.1080
Support:
- 1.0990/1.0960
Recommendations:
Until clear reversal signals emerge, euro purchases remain a priority. Signals should be sought at the end of the upcoming decline. Supporters of intraday can make short-term sales with a reduced lot.
AUD/USD
Analysis:
The current wave of the Australian dollar today is bearish, from September 12. Since the beginning of this month, an unfinished correction has been developing in it. In recent days, the price has rolled back down.
Forecast:
Today, general flat sentiment in the price corridor between the nearest zones is likely. After the current pullback is completed, the pair is expected to move up. A short-term breakthrough of the lower support border is not excluded.
Potential reversal zones
Resistance:
- 0.6830/0.6860
Support:
- 0.6770/0.6740
Recommendations:
The pair's sales are premature. It is necessary to wait for the completion of the current rise and reversal signals. Purchases of the pair within the sessions are possible, but there is a high probability of counter-rollbacks.
GBP/JPY
Analysis:
The bullish wave of August 5 gained clear proportions (A-B-C) and reached the lower edge of a wide zone of a potential reversal of a large scale. Since yesterday, a small scale wave with a high wave level has been forming downwards.
Forecast:
The beginning of the decline is highly likely to become a correction area within the current wave. In the first half of the day, the rate is likely to rise. By the end of the day, you should expect a reversal and a repeated move of the pair down.
Potential reversal zones
Resistance:
- 137.50/137.80
Support:
- 136.60/136.30
Recommendations:
Purchases of the pair are possible within the intraday. A lot more sensible to reduce. In the area of the resistance zone, it is recommended to track the reversal signals to find the point of sale of the instrument.
Explanations: In the simplified wave analysis (UVA), the waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid background of the arrows shows the formed structure, dotted – the expected movement.
Attention: The wave algorithm does not take into account the length of time the tool moves!
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