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GBP/USD
Analysis:
The upward wave of the British pound, which began in March, gave rise to a new long-term trend. In the last 3 months, a complex correction structure has been formed. In its last section from June 10, an intermediate corrective pullback is formed. The price has reached the lower limit of the next potential reversal zone, where the current correction is likely to end.
Forecast:
Today in the first half of the day, a flat mood is expected in the corridor between the opposite zones. By the end of the day, you can expect the resumption of the upward movement rate. A break in the upper limit of the calculated resistance is not excluded.
Potential reversal zones
Resistance:
- 1.2590/1.2620
Support:
- 1.2510/1.2480
Recommendations:
Trading the pound today can be risky. It is optimal to refrain from entering the pair's market until the downward pullback is complete and look for entry into long positions in the area of the support zone.
AUD/USD
Analysis:
In the long-term upward wave that started on March 19, a flat correction has been formed over the past month. Given the scale of the previous section of the trend, the correction is expected to be lengthy and complex in its form. The price is squeezed in a narrow corridor between oncoming zones.
Forecast:
Today, we can expect the continuation of the sideways course of price movement. In the European session, a downward mood is more likely. The reversal is worth waiting for in the area of settlement support. By the end of the day, the probability of a repeat price rise increases.
Potential reversal zones
Resistance:
- 0.6970/0.7000
Support:
- 0.6910/0.6880
Recommendations:
Trading on the pair market today is possible only within the intra-session style, according to the expected sequence. To reduce the risk, it is better to reduce the trading lot.
EUR/JPY
Analysis:
The direction of the euro's trend is set by the downward wave from June 5. In the last 3 weeks, the price has adjusted up. The wave has entered its final phase. The calculated resistance is located at the lower border of the preliminary target zone.
Forecast:
During the next trading sessions, you need to wait for the completion of the downward course, the formation of a reversal and a second attempt at price growth. The section of the rise can be expected at the American session or at the beginning of the next day.
Potential reversal zones
Resistance:
- 121.90/122.20
Support:
- 121.20/120.90
Recommendations:
Until there are clear signals of a reversal, sales in the pair's market are very risky. It is recommended to buy the instrument, taking into account the short-term nature of the current price rise.
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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