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Review and forecast for AUD / USD
At the end of last year, the ascending wave of the instrument. With a high probability, it will hold the place of correction of the previous rise.
The last and incomplete wave. The wave has a complex irregular shape. In the wave structure, the first two parts (A; B) are formed. Since January 26, the final part of the structure is formed downward. In turn, the price quotes are formed by a zigzag pattern on the chart.
In the coming sessions, it is expected that the upward movement will complete the movement. A breakthrough of the upper boundary of the resistance zone is not ruled out.
Boundaries of resistance zones:
- 0.7940 / 70
Boundaries of support zones:
- 0.7850 / 20
Review and Forecast for GBP / JPY
The price extremes of the cross pair pound/yen for the past year and a half, formed the "ascending pattern" on the chart. Its upper limit is positioned against the lower edge of the wide counter zone that formed around the resistance level of a large scale.
Within the framework of the basic model, a downward movement is forming since September 21 of the last year, with the potential that does not allow the possibility of reversing movements. The wave is nearing completion. It has the wrong kind of structure in the form of an expanded flat.
As a result of the decline during the first half of February, the pair's quotes reached the estimated target zone that coincides with the lower boundary of the flat channel.
Today, the probability of a price rebound is high. At the next session, a short-term decline is possible. The resistance zone indicates the expected rate of price growth. Further, a reversal is expected and a second attempt to pressure the lower boundary of the corridor.
Boundaries of resistance zones:
- 150.30 / 60
Boundaries of support zones:
- 149.10 / 148.80
Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed.
The areas marked on the graphs are indicated by the calculation areas, where the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a trade transaction, you need to confirm the signals of your trading systems.
* The presented market analysis is informative and does not constitute a guide to the transaction.
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