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EUR/USD
Analysis:
In the short term, on the euro chart, the last unfinished wave model for today counts down from September 3. The structure of the wave parts has reached the minimum necessary proportions. Since October 21, a downward zigzag has been formed towards us, which does not go beyond the correction yet.
Forecast:
Fluctuations in the euro are expected today in the narrow price range between the counter zones. Before the reversal, a short-term puncture of the lower border of support is possible.
Potential reversal zones
Resistance:
- 1.1070/1.11
Support:
- 1.1020/1.0990
Recommendations:
Until there are clear signals of completion of the whole wave, trading in the euro market carries a high degree of risk. Purchases today are possible in the framework of intra-session trading.
AUD/USD
Analysis:
The unfinished wave of the Australian dollar started on September 12. The wave develops in the form of a plane. The end of the middle part (B) rested against strong resistance. At this level, a bearish reversal structure is formed.
Forecast:
Today, the most likely scenario is the price movement in the "sideways". Before the beginning of an active decline, the price is expected to roll back up to the area of the calculated resistance zone.
Potential reversal zones
Resistance:
- 0.6880/0.6910
Support:
- 0.6830/0.6800
Recommendations:
Before the emergence of clear signals of a change of rate, trading in the pair market is not recommended. Purchases are possible within the intraday, reduced lot. In the area of the resistance zone, it is recommended to track the pair's sell signals.
GBP/JPY
Analysis:
In the last upward wave that has not been completed today, dated August 5, an intermediate correction is being formed. The wave has the form of a flat pennant and is in the final phase. The price movement is directed along with the resistance level of a large scale.
Forecast:
Today, the price of the pair is expected to move laterally. The upper boundaries of the price range show settlement zones. The next session is likely to decline. The growth rate can be expected by the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 140.60/140.90
Support:
- 139.80/139.50
Recommendations:
Sales can only be used in the intraday trading style. In the area of settlement support, it is recommended to monitor the signals of the instrument purchase.
Explanations: In the simplified wave analysis (UVA), the waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid background of the arrows shows the formed structure, dotted – the expected movement.
Attention: The wave algorithm does not take into account the length of time the tool moves!
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