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EUR/USD
Analysis:
The formation of the upward wave structure of the euro major continues. The wave of September 3 corrects the last section of the trend and looks like a stretched plane. The last section counts from November 14. The price has stalled at the next resistance.
Forecast:
After yesterday's breakout before further growth of the rate, the algorithm requires to form a counter pullback. It can be in the form of a flat sidewall, but the option of a more significant reduction is not excluded. By the end of the day, the probability of a second attempt to break up increases.
Potential reversal zones
Resistance:
- 1.1260/1.1290
- 1.1190/1.1220
Support:
- 1.1140/1.1110
Recommendations:
Sale of the euro today is possible in the coming sessions, the minimum lot. At the end of the expected decline, it is recommended to monitor the reversal signals and entry points into long positions.
AUD/USD
Analysis:
The direction of the short-term movements of the "Aussie" is set by the bearish wave of September 12. The structure of the wave has the appearance of an ascending pennant, but it lacks the final part. Quotes of the pair are at the upper edge of a strong reversal zone of a large TF.
Forecast:
The upward part of the movement has reached the limit of elongation. In the coming day, as part of the calculated resistance, it is expected to form a reversal and start a downward move. When changing the course, you cannot exclude the puncture of the upper boundary of the zone. As the volatility of the pair decreases, it will increase.
Potential reversal zones
Resistance:
- 0.6930/0.6960
Support:
- 0.6860/0.6830
Recommendations:
The pair's purchases are irrelevant today. It is recommended to monitor the signals of the pair reversal on your TS, to sell the instrument.
GBP/JPY
Analysis:
The current trend wave of August 5 completes the upward wave of the weekly scale. Yesterday's upward sturt significantly brought the price closer to the preliminary target zone, to which there are about 3 price figures.
Forecast:
An intermediate pullback is expected in the next sessions. The expected nature of price movements is flat. The resumption of price growth is likely at the end of the day or early next week. The resistance zone shows the upper limit of the expected range of the pair within the current day.
Potential reversal zones
Resistance:
- 147.70/148.00
Support:
- 146.60/146.30
Recommendations:
Sales of the pair are possible today, but you need to consider the probability of counter-rollbacks. It is recommended to focus on finding entry points to long positions at the end of the upcoming price rollback.
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!
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