Stay 
Trading Conditions
Products
Tools
GBP/USD
Analysis:
Since the end of June, the rising wave sets the main direction of the "short-term". The preliminary calculation shows about 5 figures to the target zone from the current values. The last section of the wave started on November 22. In recent days, the price is adjusted in the lateral plane. The structure of the descending section is not complete.
Forecast:
Today, the continuation of the general lateral mood of the pair's movement is likely. After trying to put pressure on the resistance zone, the price is expected to decline to the support area.
Potential reversal zones
Resistance:
- 1.3160/1.3190
Support:
- 1.3090/1.3060
Recommendations:
For long-term transactions, there are no conditions in the pound market. Short-term sales of the instrument can be recommended within the intraday. It is more reasonable to reduce the size.
USD/JPY
Analysis:
The bullish wave of August 5 sets the main direction of the short-term trend. In the last section of November 1, the correction part, which has the form of a stretched plane, is nearing completion. Then the rise will continue.
Forecast:
The next day, the completion of the corrective decline is likely. The downward part of the wave can turn around within the nearest support or extend to the level of the next zone. In this case, the change in the rate will move to the next day.
Potential reversal zones
Resistance:
- 109.20/109.50
Support:
- 108.60/108.30
- 107.90/107.60
Recommendations:
When selling a pair today, you should be careful. Transactions should be closed at the first sign of a reversal. At the end of the downward movement, it is recommended to look for signals to buy the instrument.
Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure for determining the expected movement.
Attention: The wave algorithm does not take into account the duration of the tool movements in 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.
