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EUR/USD
Analysis:
The dominant rising wave of the pan-European currency since March 20 has been forming a correction phase (B) since the end of July. The wave develops mainly in the side plane. Its structure looks complete. The price is at the lower edge of a wide potential reversal zone of the daily scale.
Forecast:
Today, the price is expected to move in the corridor between the opposite zones. After an attempt to put pressure on the support zone in the European session, there is a high probability of a change in the exchange rate and price growth.
Potential reversal zones
Resistance:
- 1.1690/1.1720
Support:
- 1.1620/1.1590
Recommendations: the
The euro is of interest to supporters of intraday trading today. It is more reasonable to conduct trade transactions from the calculated borders, according to the expected sequence.
AUD/USD
Analysis:
The upward wave of the Australian dollar from September 25 forms the beginning of the final part of a more global bullish trend. In its structure, the entire past month was formed by collection (B), which is not yet completed until now. The movement has entered its final phase.
Forecast:
The current price movement vector is expected to continue in the next 24 hours. In the European session, a short-term rise in the area of the resistance zone is possible. The active decline is more likely in the second half of the day.
Potential reversal zones
Resistance:
- 0.7020/0.7050
Support:
- 0.6950/0.6920
Recommendations:
There are no conditions for "Aussie" purchases today. In the area of resistance, it is recommended to track reversal signals for selling the instrument.
GBP/JPY
Analysis:
The last short-term wave of the pound cross against the yen started on October 12. Its direction coincides with the course of a larger bearish structure. Since last week, the price forms a hidden correction of the wrong type.
Forecast:
In the next trading sessions, the pair will see a general flat mood of the movement. After the probable pressure on the resistance zone, the exchange rate is expected to change and decrease to the lower border of the price corridor.
Potential reversal zones
Resistance:
- 135.70/136.00
Support:
- 134.60/134.30
Recommendations:
Trading on the pair's market today is only possible within the session. You should be careful when purchasing. After the appearance of reversal signals in the resistance area, priority should be given to sales.
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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