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EUR/USD
Analysis:
Short-term vectors of the euro's movement are set by the algorithm of the rising wave from March 20. In the last 2 months, the price has been in a flat price range, forming a correction. The final part of this structure has been reporting since May 20. Since the end of last week, an intermediate pullback has been developing.
Forecast:
In the next trading session, it is expected to complete the price move up and form a reversal. By the end of the day, you can expect a decrease in the pair's exchange rate. The lower limit of the preliminary daily course of the pair is shown by the calculated support.
Potential reversal zones
Resistance:
- 1.0930/1.0960
Support:
- 1.0860/1.0830
Recommendations:
The best tactic today is to stay out of the euro market. Intraday supporters can make short-term purchases of the pair from the resistance zone.
AUD/USD
Analysis:
On the "Aussie" chart, an ascending wave of the daily scale has been developing since March 19. The price supports the lower border of the strong potential reversal zone. Before further breakout up, it is necessary to form a correction. The last section of the wave counts down from May 4.
Forecast:
Today, the price is expected to move flat in the side corridor between the opposite zones. After the probable pressure on the resistance zone, you should wait for the change of the course and the price move down.
Potential reversal zones
Resistance:
- 0.6590/0.6620
Support:
- 0.6520/0.6490
Recommendations:
Trading on the pair's market today is only possible within the intraday style, according to the expected sequence. It is better to reduce the trading lot.
Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of arrows shows the formed structure, and the dotted ones show the expected movements.
Note: The wave algorithm does not take into account the duration of the tool movements in time!
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