After the completed downward wave, the upward wave structure from August 1 looks promising. Its potential allows us to wait for the continuation of the rise on a larger scale of movement. A flat correction has been formed in the wave structure since August 6. The price is at the upper limit of strong support.
In the next session, a flat mood of price movement is possible today. Possible pressure on the support area. In the afternoon, a reversal and the beginning of the price rise are expected.
In the next session, selling the euro makes sense only with "pipsing" transactions today. In the support area, it is recommended to track the reversal signals of your vehicle to find entry points in long positions.
The direction of the short-term "Aussie" trend is indicated by the last, unfinished wave of July 19. In its structure, a counter upward section is formed, the current wave level of which at the time of analysis does not go beyond the correction. In the structure of the wave from yesterday, within the framework of the last part (C,) a pullback develops.
In the next trading session, the price of the pair expects a flat mood of movement with a downward vector. The breakthrough of the lower boundary of the zone is unlikely. The change of the movement vector can be expected in the afternoon.
The pair's sales may be risky due to the expected slow down. In the area of the support zone, it is recommended to focus on the signals of buying the instrument.
The bearish trend that started in March continues on the cross chart. Since August 5, in the framework of its last section, a counter correction of the wrong kind is formed. Its structure currently looks fully formed. The downward section, which began yesterday, has a reversal potential.
Today, the most likely flat mood of the price movements of the pair between the nearest opposite zones. After a possible attempt to put pressure on the support zone, a general upward movement vector is expected. We can expect a return to the bearish rate by tomorrow.
When buying a pair today, it is necessary to take into account the probability of counter-rollbacks. It is more reasonable to lower the lot. It is safer to refrain from trading transactions and look for the sell signals at the end of the price rise.
Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show 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 formed structure, the dotted ones are the expected movements.
Attention: The wave algorithm does not take into account the length of time the instrument moves.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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