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GBP/USD
Analysis:
The direction of the short-term trend of the British pound is set by the bearish wave of February 24. The wave is formed from the lower border of a strong reversal zone within the global bullish trend. The upward section from March 25 does not go beyond the internal pullback.
Forecast:
Today, in the first half of the day, a flat mood of movement with an upward vector is expected, no further than the support zone. By the end of the day, the probability of a reversal and the beginning of a decline increases, no further than the boundaries of the support zone.
Potential reversal zones
Resistance:
- 1.3890/1.3920
Support:
- 1.3790/1.3760
Recommendations:
Trading on the British pound market today can only be safe during trading sessions. Before the appearance of clear reversal signals, purchases of the instrument are more promising. It is recommended to reduce the trading lot as much as possible.
USD/JPY
Analysis:
In the short term, the dominant trend direction of the Japanese yen is set by the bullish wave of January 6. The wave has a pronounced impulse structure. Major quotes are located near the upper border of a strong reversal zone.
Forecast:
In the next trading sessions, the flat mood of the movement is expected to end. By the end of the day, you can expect a reversal and the beginning of an active price movement down. The calculated support shows the lower limit of the expected daily range.
Potential reversal zones
Resistance:
- 110.70/111.00
Support:
- 109.80/109.50
Recommendations:
Until clear sell signals appear, trading on the Japanese yen market in the main pair is not recommended today.
USD/CHF
Analysis:
In the Swiss franc market, the upward wave from January 6 went beyond the correction of the previous bearish trend. The wave level of the movement exceeded the scale of the daily TF. The price has reached the intermediate resistance zone. The unfinished section counts down from March 22.
Forecast:
Today, the price is expected to move sideways between the nearest oncoming zones. In the next session, a downward vector is more likely. By the end of the day, you can expect a second rise to the resistance zone.
Potential reversal zones
Resistance:
- 0.9440/0.9470
Support:
- 0.9380/0.9350
Recommendations:
Trading against the trend direction is risky and can lead to losses. The optimal tactic is to refrain from entering the market during the downside pull back and look for buy signals at its end.
EUR/JPY
Analysis:
The direction of the pair's movement since the beginning of May last year is set by the ascending wave. By the beginning of March, the price reached the boundaries of the strong reversal zone. An expanding correction plane is formed along its borders.
Forecast:
In the next trading session, the price is expected to decline in the area of the settlement support zone. At the end of the day, the probability of a reversal and a return to the ascending rate increases.
Potential reversal zones
Resistance:
- 130.20/130.50
Support:
- 129.60/129.30
Recommendations:
Trading on the pair's market today can be risky. It is safer to refrain from entering the market during the downside pullback. In the area of the support zone, it is recommended to track signals for buying the pair.
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 line shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!
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