EUR / USD overview with the current day forecast

The rising portion of the Euro-currency major chart forms the final part of the bullish correction on a large scale. The wave has the form of an elongated plane. Taking into account the completeness of the proportions of the individual parts within the wave and the achievement of the preliminary design zone, the chance of completion of the wave model in the coming weeks is significantly increased. Signals to change the trend on the chart has not yet been observed.

The width of the potential turn zone gives the price band more than 2 price figures.

Today, the most likely scenario will be a common flat tone. The growth of the first half of the day will be replaced by a counter decrease. The range of the daily course down will limit the support zone.

The boundaries of the resistance zones:

- 1.1820 / 50

The boundaries of the support zones:

- 1.1730 / 1.1700

Overview of GBP / JPY with the forecast for the current day

The upward "pennant" formed since October last year on the pound / yen cross chart was broken down, despite the incompleteness of the current upward wave. The analysis of the structure indicates the development of the final segment of the middle part of the wave (B). The breakthrough is temporary. After completion of the correction, the upward movement will resume.

The preliminary calculation of the reduction target, which began last month, indicates an area in the region of 3 price figures below the current rate. At the time of analysis, the price rests on a support zone that can become the basis for a counter-rollback.

In the next trading sessions, the probability of changing the direction of the movement and the growth of the pair's quotes are very likely. The breakthrough of the lower support boundary is possible, but the probability of this is small. The resistance zone shows the upper limit of the expected daily volatility.

The boundaries of the zones of resistance:

- 140.50 / 80

The boundaries of the support zones:

- 139.50 / 20

Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C). Of such waves, all kinds of correction are composed and most of the impulses. On each considered time-frame the last, incomplete wave is analyzed.

The zones marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a transaction, you need to confirm the signals used by your trading systems.