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15.10.202110:42 Forex Analysis & Reviews: Simplified wave analysis and forecast for EUR/USD, USD/JPY, GBP/JPY, GOLD on October 15

EUR/USD

Analysis:

A descending wave zigzag has been forming on the chart of the European currency since the beginning of summer. The wave structure looks complete. There are no signals of a change of course on the chart. The counter wave design of September 30 does not go beyond the correction of the last part of the wave.

Forecast:

The general upward movement vector is expected to continue the next day. A sideways flat along the support zone is more likely in the next session. The growth rate can be expected at the end of the day or tomorrow.

Potential reversal zones

Resistance:

- 1.1660/1.1690

Support:

- 1.1590/1.1560

Recommendations:

Purchases on the euro market today are possible only within the intraday fractional lot. It is optimal to refrain from entering the pair's market until the end of the current price growth and enter into sales at its end.

Exchange Rates 15.10.2021 analysis

USD/JPY

Analysis:

An upward wave has set the trend direction of the Japanese yen in its main pair since the beginning of the year. In turn, this price movement completes the ascending wave structure of a larger TF. The price has reached the boundaries of a strong potential reversal zone. There are no reversal signals on the chart yet.

Forecast:

In the upcoming sessions, the price movement is expected to move sideways. Settlement zones indicate the boundaries of the expected price corridor.

Potential reversal zones

Resistance:

- 114.20/114.50

Support:

- 113.60/113.30

Recommendations:

The potential for purchases of this pair is exhausted. No conditions have been created for sales yet. It is recommended to refrain from entering the pair's market until conditions are more favorable for trading.

Exchange Rates 15.10.2021 analysis

GBP/JPY

Analysis:

The upward wave zigzag on the pound/yen chart, which began on July 19, entered the final phase. The price has reached the lower limit of the preliminary target zone. There are several strong levels of large-scale resistance within its borders.

Forecast:

Today, the general upward movement vector is expected to continue until its completion. A sideways flat with a descending vector is not excluded in the next session.

Potential reversal zones

Resistance:

- 157.30/157.60

Support:

- 156.30/156.00

Recommendations:

There are no conditions for sales in the pair's market today. It is recommended to look for signals to buy the pair at the end of all counter pullbacks. It is worth considering the limited potential of price growth.

Exchange Rates 15.10.2021 analysis

GOLD

Analysis:

Since August 9, an ascending wave zigzag with a high wave level has been forming on the gold chart. As part of its final section, an intermediate pullback has been developing in the last three days.

Forecast:

The end of the downward movement is expected in the next trading sessions. By the end of the day, we can expect the formation of a reversal and the resumption of the price rise. Calculated zones indicate the boundaries of the expected daily course.

Potential reversal zones

Resistance:

- 1805.0/1810.0

Support:

- 1780.0/1775.0

Recommendations:

Today, transactions for sale on the gold market can be risky and are not recommended. It is proposed to monitor the reversal signals in the area of settlement support to purchase the instrument.

Exchange Rates 15.10.2021 analysis

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 take into account the duration of the instrument's movements in time!

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Isabel Clark,
انسٹافاریکس کا تجزیاتی ماہر
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