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EUR/USD
On a short-term euro chart, the direction of the main course is set by the unfinished bearish wave of June 25. Within the framework of the construction, a correction (B) is formed. Since July 11, the price began the formation of the final part (C), in which yesterday there is a rollback upward.
Forecast:
Judging by the potential of the movement, the current price growth will be an intermediate link before the next price pulls down. The ultimate level rise restricts the design resistance. The flat nature of the movement is expected. On the current day, a return to the main course is unlikely.
Recommendations:
Supporters of intraday can purchase a pair. It should take into account the high probability of counter-rollbacks. For longer trades for the rollback period, it is recommended to refrain from trading and monitor the instrument's sell signals at its end.
Resistance zone:
- 1.1250/1.1280
Support zone:
- 1.1200/1.1170
AUD/USD
The main vector of short-term fluctuations in the rate of "Aussie" is given by the algorithm of the upward wave from May 21. In the structure of its last part, there is a clear zigzag. Since yesterday, within the last part, a rollback has been formed.
Forecast:
The next trading sessions are expected to complete the current rollback down, the formation of a reversal and the beginning of a price rise. A breakthrough of the lower limit of the support zone is unlikely.
Recommendations:
Selling a pair today is not very promising. In the support area, it is recommended to track the reversal signals to find the entry point in long positions.
Resistance zone:
- 0.7070/0.7100
Support zone:
- 0.7000/0.6970
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.
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