15.11.201910:48 Forex Analysis & Reviews: Simplified wave analysis of EUR/USD and AUD/USD on November 15

EUR/USD

Analysis:

Since September 3, an upward stretched plane has been formed on the chart of the European currency. The wave reached the minimum necessary proportions. The decline that began on October 32 does not go beyond the correction of this wave. The price is at the upper limit of the strong zone of a potential reversal.

Forecast:

Today, the general upward mood of the pair's movement is expected, with the flat nature of fluctuations. In the next session, pressure on the support zone is not excluded. By the end of the day, you can expect an increase in volatility.

Potential reversal zones

Resistance:

- 1.1070/1.1100

Support:

- 1.1010/1.0980

Recommendations:

Today, intraday trading is more relevant. It is recommended to track the signals of the purchase of the euro.

AUD/USD

Analysis:

On August 12, a downward wave has been forming on the Aussie chart. The first 2 parts (A + B) are formed in it. The final part (C) started on October 31. The preliminary target zone is located in the region of the 67th price figure.

Forecast:

Shortly, the downward course is expected to continue. In the first half of the day, a short-term pullback of the price up to the resistance zone is possible. The support zone is preliminary, it shows the lower boundary of the expected daily course.

Potential reversal zones

Resistance:

- 0.6820/0.6850

Support:

- 0.6750/0.6720

Recommendations:

Purchases today are unpromising. At the end of the upcoming rollback, it is recommended to monitor 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!