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EUR/USD
Analysis:
An upward trend dominates the market of the European currency pair. Its unfinished section dates back to the end of March. In the structure of this wave, the final stage of the hidden correction is formed in the last three weeks. After its completion, the bullish trend will continue.
Forecast:
Today, the generally flat nature of price fluctuations is expected. A descending vector is more likely. In the next session, a short-term rise in the rate is possible, no further than the resistance zone.
Potential reversal zones
Resistance:
- 1.2200/1.2230
Support:
- 1.2140/1.2110
Recommendations:
The current decline goes against the trend of the movement, so selling the euro can be risky. The lot size should be reduced. In the area of the support zone, it is recommended to track the reversal signals for buying the instrument.
AUD/USD
Analysis:
Since the beginning of this year, the price forms a correction in the dominant bullish wave of the Australian dollar, mainly moving sideways. On a small scale, a reversal wave structure has been forming upwards since May 13. It can be the beginning of the next section of the main course.
Forecast:
In the coming day, the price of the pair expects a flat movement between the nearest zones. In the European session, you can expect short-term growth, not above the resistance zone. An increase in activity and a change in the vector is more likely at the end of the day.
Potential reversal zones
Resistance:
- 0.7770/0.7800
Support:
- 0.7700/0.7670
Recommendations:
Trading the pair today can only be safe within individual trading sessions, with a reduced lot. Sales of the instrument are more promising.
GBP/JPY
Analysis:
The direction of movement of the pound/yen cross since last year is set by bullish momentum. The unfinished section in the direction of the trend started on April 23. Since May 10, the price has drifted along the intermediate resistance zone, forming the correction part (B).
Forecast:
On the next day, there is a high probability of continuing the sideways mood of the price movement until its full completion. At the end of the day or tomorrow, you can expect an increase in volatility, a reversal, and the beginning of price growth.
Potential reversal zones
Resistance:
- 154.50/154.80
Support:
- 153.80/153.50
Recommendations:
Until the current flat is fully completed, trading on the pair's market may be unprofitable and is not recommended. In the area of the calculated resistance, it is proposed to track the reversal signals for buying the pair.
USD/CAD
Analysis:
Since March last year, the chart of the major Canadian dollar is dominated by the trend of strengthening the national currency. The upper limit of the preliminary target zone is four price figures below the current rate. Since the beginning of this month, the price forms a pullback of a small TF along the intermediate resistance zone.
Forecast:
In the first half of the day, a weakly ascending course of movement is likely today, not above the boundaries of the resistance zone. Then it would be best if you waited for the formation of a reversal and a price decline up to the support area.
Potential reversal zones
Resistance:
- 1.2140/1.2170
Support:
- 1.2070/1.2040
Recommendations:
There are no conditions for buying the pair on the market. It is recommended to refrain from trading until there are clear signals of selling the instrument.
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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