GBP/USD
The current bullish wave design of July 30 reached the minimum level, from which it is already possible to complete the entire wave. The proportions of all its parts are observed. From the lower border of the zone, the price forms a downward section with a reversal potential, which can be the beginning of a reversal model.
Forecast:
During the current day, it is expected to complete the decline that began yesterday, the formation of a reversal and the beginning of a price rise. A puncture of the lower support border when changing the rate is unlikely.
Recommendations:
When selling the pound today, it's worth reducing the lot and being ready to close the deal at the first sign of a reversal. The best tactic will be to skip the current decline and to look for points of purchase of the pair at its end.
Resistance zone:
- 1.2460/1.2490
Support zone:
- 1.2380/1.2350
USD/JPY
In the short term, the yen chart moves to the "north" according to the algorithm of the upward wave of August 26. The wave completes a larger bullish construction and is close to momentum.
Forecast:
Today, the most likely scenario of the pair's movement will be "sideways". In the first half of the day, the price is expected to move down. By the end of the day, the chance of returning to the main motion vector increases. A breakthrough beyond the boundaries of the price range should not be expected.
Recommendations:
Sales in the coming sessions may be of interest only to supporters of intraday. At the end of the current pullback, it is recommended to strengthen positions in the direction of the main rate of the pair.
Resistance zone:
- 108.50/108.80
Support zone:
- 107.90/107.60
USD/CHF
The direction of the intraday trend is set by the upward wave of August 26. In a larger ascending plane, this section completes the wave zigzag. Quotes are at the upper limit of the intermediate resistance. Since last week, the franc price has been moving sideways in a narrow price range.
Forecast:
Today, the pair is expected to continue its flat movement until the current correction is fully completed. At the end of the day, the probability of a return to the dominant rate of movement increases.
Recommendations:
In the first half of the day, short-term sales may be relevant, with the potential to move no further than the settlement support. It is further recommended that you begin to track signals in the opposite direction.
Resistance zone:
- 0.9930/0.9960
Support zone:
- 0.9870/0.9840
Explanations to figures: Waves in the simplified wave analysis (UVA) consist of 3 parts (A-B-C). The last, incomplete wave is analyzed. Zones show the 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 structure formed, the dotted one is the expected movements.
Attention: The wave algorithm does not take into account the length of time the instrument moves.
