Stay 
Trading Conditions
Products
Tools
EUR/USD
Analysis:
The dominant structure on the euro chart remains a bullish wave, which has been counting since September. The price decline that began on December 31 does not yet go beyond the correction of the last part of C.
Forecast:
In the first half of the day, the pair is expected to continue its downward course. By the end of the day, the probability of a reversal and the beginning of price growth increases. The upper limit of the pair's probable daily price move limits the calculated resistance.
Potential reversal zones
Resistance:
- 1.1150/1.1180
Support:
- 1.1090/1.1060
Recommendations:
Trading on the euro market today makes sense only within the intraday. Sales may be relevant in the first half of the day. After confirming the reversal, you will be able to earn on short-term purchases. In the area of resistance, it is recommended to change the direction of transactions to sales.
AUD/USD
Analysis:
A downward wave has been forming on the Australian dollar chart since September. The appearance of the structure in the form of an upward pennant indicates its corrective nature. On December 31, its final part started. The price is approaching strong support.
Forecast:
Today, the price is likely to move sideways. In the first half of the day, movement with an upward vector is expected. At the American session, you can count on a second attempt to break through to the support zone.
Potential reversal zones
Resistance:
- 0.6900/0.6930
Support:
- 0.6830/0.6800
Recommendations:
Transactions on the "Aussie" market today are possible only in the intra-session style of trading. Before the appearance of reversal signals, the priority will be selling 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 and the dotted background shows the expected movements.
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.
