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EUR/USD
Analysis:
The trend direction of the European currency since the beginning of this year is set by a bearish wave. In a larger wave model, this is a correction. Since the end of March, the quotes have been rolling back up. The wave level of this movement does not exceed the size of the intermediate pullback.
Forecast:
In the first half of the current day, the upward course is likely to continue - up to the zone of calculated resistance. By the end of the day, you can expect a reversal and a move of the price down to the support boundaries.
Potential reversal zones
Resistance:
- 1.1900/1.1930
Support:
- 1.1830/1.1800
Recommendations:
Trading in the major euro market is quite risky today. In transactions, you should use a fractional lot. Sales will become possible after the appearance of clear signals of a change in the exchange rate.
AUD/USD
Analysis:
On the large scale of the Australian dollar chart, upward momentum is forming. The last unfinished section from April 1 has a reversal potential. With a high probability, it will give rise to a new wave at the main rate.
Forecast:
Today, a flat pattern of traffic is expected in the corridor between the nearest zones. A downward trend is likely in the European session. By the end of the day, the chance of a reversal and a second attempt at a price rise increases.
Potential reversal zones
Resistance:
- 0.7680/0.7710
Support:
- 0.7600/0.7570
Recommendations:
In the context of the upcoming trend change, selling the Australian dollar is risky. It is recommended to refrain from entering the market for the duration of the decline and look for signals to buy the pair at its end.
GBP/JPY
Analysis:
The main trend of the pound/yen cross is directed upwards. The incomplete wave model on the main course counts down from February 26. Within the framework of its final part (C), a correction is being developed that has not yet been completed.
Forecast:
In the coming day, the price of the pair is expected to move in the corridor between the nearest zones. An upward trend is likely in the European session. The decline can be expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 152.00/152.30
Support:
- 151.10/150.80
Recommendations:
Trading on the pair's market today is possible with a reduced lot, according to the expected sequence. It is recommended to complete trades at the first signals of a reversal.
GOLD
Analysis:
Within the framework of the dominant downward trend since the end of February, a corrective stretched plane has been forming on the gold chart. The structure of this wave is nearing completion.
Forecast:
In the first half of the day, a bearish course of movement is most likely, no further than the calculated support. At the end of the day, you can expect an increase in volatility and a return to the upward direction.
Potential reversal zones
Resistance:
- 1755.0/1760.0
Support:
- 1730.0/1725.0
Recommendations:
Until the end of the current wave, gold sales are risky. It is recommended to skip the descending market segment and look for buy signals in the support area.
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 one 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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