EUR/USD
Analysis:
As part of the bullish trend dominating the euro market since the beginning of June, the pair's price has been forming a downward correction. The counter section from August 20 does not yet have a reversal potential and does not go beyond the intermediate pullback.
Forecast:
On the current day, the price decline that has been continuing for the last three days is expected to end. Then you can count on the formation of a reversal and price growth in the area of the resistance zone.
Potential reversal zones
Resistance:
- 1.1840/1.1870
Support:
- 1.1770/1.1740
Recommendations:
Today, euro trading is riskier and can lead to losses. It is not recommended to enter the pair's market until clear sell signals appear in the area of the calculated resistance.
USD/JPY
Analysis:
The horizontal section of the price movement of the Japanese yen, which began a month ago, does not go beyond the algorithm of the downward wave of March 31. In the current flat, the price accumulates a wave level for a final upward spurt.
Forecast:
The price movement is expected to continue in the horizontal price corridor in the next trading sessions, with a common upward vector. A breakthrough of the upper limit of the resistance zone in the next day is unlikely. In the first half of the day, a short-term decline to the support level is not excluded.
Potential reversal zones
Resistance:
- 110.30/110.60
Support:
- 109.70/109.40
Recommendations:
Today, trading on the Japanese yen market is possible only in small lots within the framework of individual trading sessions. Buying a pair is more promising.
GBP/JPY
Analysis:
A large-scale upward wave has been developing on the chart of the pound/yen pair since July 19. The last section (C) counts from August 20. Since the beginning of last week, the price has been forming an intermediate pullback within its framework. After its completion, the development of the wave will continue.
Forecast:
Today, the most likely movement of the pair's price is along with the calculated support. By the end of the day, the probability of an increase in volatility and the beginning of a rise in the pair's exchange rate increases.
Potential reversal zones
Resistance:
- 152.70/153.00
Support:
- 151.80/151.50
Recommendations:
There are no conditions for sale on the pair's market today. It is recommended to refrain from trading transactions until clear buy signals appear in the area of settlement support.
GOLD
Analysis:
The short-term trend in the gold market is set by the upward wave of August 9. Within its framework, since the beginning of September, the price has been adjusted downwards. The support zone indicates the upper limit of the preliminary target zone of this movement.
Forecast:
The flat correction is expected to continue in the coming days until its full completion. Then a reversal will follow, with a return to the bullish vector of price movement.
Potential reversal zones
Resistance:
- 1810.0/1815.0
Support:
- 1775.0/1770.0
Recommendations:
Gold sales in flat conditions can be unprofitable. It is recommended to refrain from entering the instrument's market until the signals for buying appear in the support area.
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 one shows the expected movements.
Attention: The wave algorithm does not consider the duration of the pair's movements in time!
