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GBP/USD
Analysis:
The direction of short-term trends of the British pound since mid-March is set by the algorithm of the upward wave of the daily timeframe. The price has reached the borders of a wide potential reversal zone. Since the end of July, quotes have been moving mainly in the block, forming a flat. The correction wave is in its final phase.
Forecast:
Today, we expect mainly a sideways mood of the movement with a downward vector. If the lower limit of the nearest support zone is broken, the price may fall to the next zone today.
Potential reversal zones
Resistance:
- 1.3120/1.3150
Support:
- 1.3030/1.3000
- 1.2920/1.2890
Recommendations:
Today, trading the pound on the market is possible within the day. It is more reasonable to reduce the lot. Conditions have not yet been created for purchases of the pair. It is proposed to focus on the sales of the instrument.
USD/CHF
Analysis:
The direction of the price movement of the Swiss franc since the end of March is set by a downward wave. It completes a larger downward construction of the weekly scale. The price has reached the intermediate support zone, along which the price has been moving for the entire past month. The downward section from August 20 has a reversal potential.
Forecast:
In the coming day, the price growth is expected to end, the formation of a reversal and the beginning of the pair's downward course. When changing the course, a short-term puncture of the upper limit of resistance is not excluded.
Potential reversal zones
Resistance:
- 0.9150/0.9180
Support:
- 0.9090/0.9060
Recommendations:
Today, short-term trading transactions are possible on the pair's market, according to the described algorithm. In the first half of the day, purchases will be more profitable. After the reversal signals appear, it is recommended to change the vector of trading transactions.
Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of arrows shows the formed structure, and the dotted ones show the expected movements.
Note: The wave algorithm does not take into account the duration of the tool movements in time!
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