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07.06.201910:20 Forex Analysis & Reviews: Simplified wave analysis and forecast for EUR/USD, GBP/USD, and USD/JPY on June 7

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

EUR/USD

On the euro chart from May 23, a wave structure with a high wave potential is formed upwards. Previously, the wave will take the place of correction of the last section of the scale of TF W1, which started at the beginning of the year. Since June 2, a complex correctional model "expanding triangle" has been developing in the structure of the bullish area.

Forecast:

Today, the end the flat bearish movement of the euro is expected. By the end of the day, volatility is likely to increase and change the course of the price movement. Before the turn, a short-term puncture of the lower support boundary is not excluded. The change in the trend of the euro may coincide with the time of the release of the news block from the United States.

Recommendations:

Sales of the pair today at the next session are possible, but the lot should be minimally reduced, due to possible sharp counter-rollbacks. In the area of the support zone, it is recommended to look for signals to buy the instrument.

Resistance zone:

- 1.1300/1.1330

Support zone:

- 1.1220/1.1190

Exchange Rates 07.06.2019 analysis

GBP/USD

In the framework of the dominant downward trend since May 3, an upward correction has been developing on the chart of the British pound since the end of last month. Analysis of its structure shows the incompleteness of the wave. Since June 5, the price is in the "sideways".

Forecast:

Today, we expect the continuation of the current in the last days to the flat attitude. In the morning, the vector of price fluctuations is more likely. Return to the upward rate is expected at the end of the day or early next week.

Recommendations:

Within the framework of the formed price band at the next session, sales of the pair are possible. But purchases of a pair look more promising, entry into which is recommended to be monitored in the area of the calculated support zone.

Resistance zone:

- 1.2740/1.2770

Support zone:

- 1.2670/1.2630

Exchange Rates 07.06.2019 analysis

USD/JPY

The bullish section of the chart of the major yen pair from June 3 forms a correction to the previous trend segment from May 21. The wave structure is close to completion, forming the final part (C).

Forecast:

At the closest trading sessions, the price rise, which continues in recent days, is expected to complete. The most likely part of the turn is the resistance zone. When changing course, it is impossible to exclude a short-term break of its upper limit.

Recommendations:

Purchases have little potential, so they can be used only within the next session at the smallest TF. When the price reaches the resistance zone, it is recommended to start tracking the reversal signals of your vehicle to find the point of sale of the pair.

Resistance zone:

- 108.70/109.00

- 108.00/107.70

Support zone:

- 111.70/111.40

Exchange Rates 07.06.2019 analysis

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.

Isabel Clark
Analytical expert of InstaForex
© 2007-2024

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