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21.02.202010:21 Forex Analysis & Reviews: Simplified wave analysis of GBP/USD, USD/JPY, and USD/CHF on February 21

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.

GBP/USD

Analysis:

The main trend direction of the British currency since August last year looks to the north of the chart. From December 13, the price is adjusted. The final part (C) is formed in the structure of this wave. Two days ago, the pair's price pushed through a strong support level.

Forecast:

The preliminary potential of the entire decline is estimated at 2 price figures. You should wait for an intermediate rollback before continuing down. It is unlikely that the rate will rise above the resistance zone. Further declines are expected at the end of the day.

Potential reversal zones

Resistance:

- 1.2910/1.2940

Support:

- 1.2830/1.2800

Recommendations:

Purchases of the pound today contradict the direction of the short-term trend and can be unprofitable. It is recommended to track the instrument's sell signals in the area of the calculated resistance.

Exchange Rates 21.02.2020 analysis

USD/JPY

Analysis:

The direction of the short-term trend since August last year is set by an upward wave. Its last section started on January 8. The structure of this wave clearly shows the sequence A-B-C. During the active price growth, the quotes broke through several resistance levels of different scales at once.

Forecast:

Today, before the final upward push, a price pullback is expected. The resumption of price growth can be expected at the end of the day or at the beginning of the next trading week. The calculated resistance is located at the lower boundary of the preliminary completion zone.

Potential reversal zones

Resistance:

- 112.50/112.80

Support:

- 111.80/111.50

Recommendations:

The movement of the yen in recent days has a pronounced impulse character, so the sale of the yen is irrelevant today. In the area of the support zone, it is recommended to track purchase signals.

Exchange Rates 21.02.2020 analysis

USD/CHF

Analysis:

The unfinished bearish wave structure on the Swiss franc market dates back to April last year. Since January, the price is adjusted for its last section (C). To date, the lower limit of the preliminary correction completion zone has been reached. Its structure does not show completeness.

Forecast:

Analysis of the structure of the current pullback indicates that the price rise will continue in the coming days. In the upcoming session, a flat decline is expected in the corridor between the nearest counter zones. A second attempt to break up is likely at the end of the day.

Potential reversal zones

Resistance:

- 0.9830/0. 9860

Support:

- 0.9760/0. 9730

Recommendations:

The ascending direction remains dominant. We recommend that you focus on searching for purchase signals. In the first half of the day, short-term sales with a reduced lot are possible.

Exchange Rates 21.02.2020 analysis

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 and the dotted background shows the expected movements.

Note: The wave algorithm does not take into account the duration of the tool's movements in time!

Isabel Clark
Analytical expert of InstaForex
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