EUR/USD
On the small scale chart of the euro since September 3, the upward wave sets the trend direction. On the hourly TF, this section completes the upward wave of the wrong kind. Since the end of last week, the price forms a correction that was not completed at the time of analysis.
Forecast:
During the next sessions, the correction is expected to be completed and the price growth will begin. When turning, a short-term puncture of the lower support border is not excluded. The resistance zone is intermediate, it limits the expected daily course of the rate up.
Recommendations:
Due to the expected slow movement of the pair down, sales today are unpromising. It is recommended to focus on the search for signals of buying the pair.
Resistance zone:
- 1.1110/1.1140
Support zone:
- 1.1050/1.1020
AUD/USD
The direction of price movements of "Aussie" is set by the algorithm of the rising wave of August 7th. In its framework, the last part (C) has not been completed. The price is within a strong resistance. Since last week, the price has been adjusted, preparing the conditions for a further breakthrough. There are no reversal signals on the chart.
Forecast:
Today, flat price fluctuations are expected to continue in the range between the opposite zones. In the first half of the day, a downward movement is possible. Change of rate can be expected by the end of the day or tomorrow.
Recommendations:
When selling the pair, you should be careful and be ready to close the deal at the first signs of a reversal. It is recommended to focus on the purchase of the instrument.
Resistance zone:
- 0.6890/0.6860
Support zone:
- 0.6830/0.6800
GBP/JPY
The rising wave of the cross on August 5 reached the preliminary target zone coinciding with the resistance level of a large scale. The proportions of the wave parts look complete, but there are no reversal signals at the time of analysis.
Forecast:
In the next day, there is a high probability of a price rollback down. Its size may vary, but the most expected level of completion is within the bounds of estimated support. Next, a second attempt to lift the rate is expected.
Recommendations:
Today, supporters of Intraday can take a closer look at the sales of the pair. Supporters of longer trades are advised to refrain from trading during the upcoming decline and to monitor the purchase signals at its end.
Resistance zone:
- 135.30/135.60
Support zone:
- 134.50/134.20
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.
