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EUR/USD
Analysis:
The chart of the single European currency has been showing an upward trend since March of this year. On September 28, the correction stretched plane ended. The ascending section started, then gradually increases the movement potential.
Forecast:
In the next 24 hours, conditions are expected to form for a further upward surge. In the European session, a short-term decline in the support area is possible. The active growth phase is likely at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.1860/1.1890
- 1.1780/1.1810
Support:
- 1.1730/1.1700
Recommendations:
In the near future, sales in the euro market have small potential and can be very risky. Purchases of the pair are recommended. You should look for entry to trade in the area of settlement support.
AUD/USD
Analysis:
A powerful weekly impulse wave has been forming on the Australian dollar chart since March. Two weeks ago, the hidden correction was completed. Since September 25, the movements form the conditions for a new upward surge.
Forecast:
The price movement is expected today between the nearest counter zones. There may be pressure for support in the European session while active growth is possible in the US session. A breakout of the upper limit of the resistance zone is unlikely today.
Potential reversal zones
Resistance:
- 0.7200/0.7230
Support:
- 0.7130/0.7100
Recommendations:
There are no conditions for selling the "Aussie" today. In the area of settlement support, we recommend tracking signals for buying the instrument. Trading is only possible within the intraday.
USD/CHF
Analysis
The Swiss franc chart is dominated by a bearish trend. All oncoming movements do not exceed the level of intermediate corrections. The last section of the main course started on September 25. The price has reached the potential reversal zone. In the structure of this wave, the correction must be completed.
Forecast:
In the coming days, a general flat price movement is expected in the corridor between the opposite direction zones. After an attempt to put pressure on support, a reversal and rise to the upper border area are possible. By the end of the day, we can expect another exchange rate change and the beginning of a decline.
Potential reversal zones
Resistance:
- 0.9200/0.9230
Support:
- 0.9140/0.9110
Recommendations:
Trading on the franc market is only possible with a reduced lot during the session. In the first half of the day, purchases are more promising. After the reversal signals appear, it is better to change the trading vector.
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 the arrows shows the formed structure, and the dotted background shows the expected movements.
Note: The wave algorithm does not take into account the duration of the instrument's movements in time!
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