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EUR/USD
Analysis:
A corrective plane has been forming on the euro chart since the end of July. Its structure is close to completion. The ascending wave of a small scale that began on June 18 has a reversal potential. It has the wrong kind of structure. The wave can be the beginning of a new trend wave.
Forecast:
In the coming day, the downward course of the movement is expected to continue until its full completion. If the lower limit of the nearest support is broken, the decline will continue to the next zone. Then we should wait for a reversal and the beginning of price growth.
Potential reversal zones
Resistance:
- 0.1840/0.1870
Support:
- 1.1770/1.1740
- 1.1690/1.1660
Recommendations:
Until clear reversal signals appear, purchases on the euro market are premature and may be unprofitable. When selling, you should split the lot, closing the deal at the first signals of a reversal.
AUD/USD
Analysis:
The direction of the short-term trend of the Australian dollar major is set by the bearish wave algorithm of February 25. The wave structure has entered the final phase. The unfinished section counts down from July 6.
Forecast:
In the coming day, the current bearish movement vector is expected to continue until its completion of the decline. A short-term pullback to the area of the resistance zone is possible in the next session.
Potential reversal zones
Resistance:
- 0.7400/0.7430
Support:
- 0.7330/0.7300
Recommendations:
There are no suitable conditions for purchases on the "Australian" market today. At the end of counter pullbacks, it is recommended to track signals for the sale of the instrument. It is safer to reduce the lot.
USD/CHF
Analysis:
On the chart of the main pair of the Swiss franc, a descending reversal wave structure is formed before the trend break from June 18. After completing its middle part (B), active reduction of the major rate will begin.
Forecast:
In the first half of the day, an upward movement rate is expected today. In the area of the calculated resistance zone, then you can wait for the end of the rise, the formation of a reversal, and the beginning of a price decline. The calculated zones indicate the boundaries of the expected daily course.
Potential reversal zones
Resistance:
- 0.9230/0.9260
Support:
- 0.9160/0.9130
Recommendations:
Trading on the pair's market is risky today. Purchases have little potential and are not recommended. Sales are possible in a fractional lot after the appearance of clear reversal signals.
GBP/JPY
Analysis:
Within the framework of the dominant upward trend of the British pound/Japanese yen pair over the past year, a hidden correction is nearing completion. On June 21, the price forms a reversal model of the wrong type, preceding the beginning of a new wave along with the trend.
Forecast:
Today, the price of the pair is expected to continue to decline. A short-term pullback to the resistance zone is not excluded at the European session. The calculated support runs along the upper border of the reversal zone of a large TF.
Potential reversal zones
Resistance:
- 151.00/151.30
Support:
- 150.00/149.70
Recommendations:
Until there are clear reversal signals in the area of the support zone, there are no conditions for purchases on the pair's market. In selling deals, it is more reasonable to reduce the lot.
Explanations: 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 consider the duration of the instrument's movements in time!
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