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EUR/USD
Analysis:
On the chart of the European currency since September, an upward wave structure has been developing. In its appearance, it most resembles a stretched plane. The wave lacks the final part. The price has reached the level of resistance on a large scale.
Forecast:
In the first half of the day, today is expected to move in the lateral plane with a downward vector. By the end of the day, it is possible to decrease to the support zone. After that, it is expected to resume the upward course.
Potential reversal zones
Resistance:
- 1.1100/1.1130
Support:
- 1.1040 / 1.1010
Recommendations:
Trading on the euro market today is possible only within the intraday. At sales, it is necessary to consider the high probability of counter kickbacks. The best tactic would be to wait for the downside rollback to complete and track the buy signals.
AUD/USD
Analysis:
From September 12, the latest unfinished wave construction in the Australian dollar market is bearish. The wave structure develops the final part (C). Within its framework, a correction is formed. The price is at the lower border of a wide area of a potential reversal.
Forecast:
In the coming days, the completion of the price rise, the formation of a reversal and the beginning of the pair's downward movement are expected. The decline can take an impulse form. The support zone demonstrates the expected scope of the daily course.
Potential reversal zones
Resistance:
- 0.6850/0.6880
Support:
- 0.6790/0.6760
Recommendations:
Buying a pair today is risky. It is recommended to focus on finding entry signals in short positions.
GBP/JPY
Analysis:
On the cross chart since August, the upward trend moves the price of the 150th price figure. For the past month, the price has been adjusted. On November 22, a new section of the main trend started. A corrective pullback is needed before a further upswing.
Forecast:
In the first half of the day today, a flat mood of the movement is expected. It is possible to reduce the price in the area of settlement support. By the end of the day, it is expected to intensify and return to the main vector of movement. With the rise, a sharp increase in volatility is likely.
Potential reversal zones
Resistance:
- 144.40/144.70
- 143.20/143.50
Support:
- 142.40/142.10
Recommendations:
Sales of the pair today are very risky, not recommended. At the end of all counter-movements, it is proposed to look for entry points in the long position.
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 for determining the expected movement.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!
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