15.07.201909:20 Forex-elemzések és áttekintések: Simplified wave analysis and forecast for EUR/USD, AUD/USD, and GBP/JPY on July 15

EUR/USD

Since January, the euro chart is dominated by the bearish mood of the trend. The unfinished wave structure is the bearish wave of June 25. In its structure, the correctional part (B) has entered the final phase.

Forecast:

Today, the upward movement vector is expected to continue until the full completion of the price rise. The most likely reversal zone is resistance. By the end of the day, the chance of a change in the direction of the intersessional movement increases.

Recommendations:

When buying the euro today, it is necessary to take into account the expected low potential for recovery. When the price reaches the resistance area, it is recommended to track the sale signals.

Resistance zone:

- 1.1290/1.1320

Support zone:

- 1.1220/1.1190

AUD/USD

The upward wave structure of May 21 is directed against the main trend of the Australian dollar. In the wave structure, the first 2 parts are completed. The price rise that began on July 7 gave rise to the final part (C). The price reached the intermediate resistance zone.

Forecast:

Today, we expect a mostly flat attitude of the movement of the pair. In the next few hours, the likely change of the motion vector. When changing course, a short-term puncture of the upper limit of resistance is possible. The lower limit of daily volatility shows the support zone.

Recommendations:

Buying the pair in the first half of the day will be irrelevant. Supporters of intraday can use short-term sales of the pair. When the price approaches the support zone, it is recommended to start tracking the signals of buying the pair.

Resistance zone:

- 0.7030/0.7060

Support zone:

- 0.6970/0.6940

GBP/JPY

Since July 1, the direction of the price movement of the cross is set by a bearish wave. In the wave structure in the flat price corridor, the corrective part (B) has been developing for the last 2 weeks. The movement is nearing completion.

Forecast:

An upward movement vector is expected at the next trading sessions. Sharp counter kickbacks are not possible. In the area of the calculated resistance zone, the entire current correction is expected to complete and a reversal is formed. The downward phase of the movement is likely at the end of the day or tomorrow.

Recommendations:

Purchases of the pair will be most profitable in the first half of the day. When the price reaches the calculated resistance, it is recommended to close all long positions and start tracking the reversal signals.

Resistance zone:

- 136.00/136.30

Support zone:

- 135.40/135.10

Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show areas with the highest probability of reversal. The arrows indicate the wave marking according to the method used by the author, the solid background is the formed structure, the dotted ones are the expected movements.

Note: The wave algorithm does not take into account the duration of tool movements over time.