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18.03.202009:42 Forex Analysis & Reviews: Simplified wave analysis of EUR/USD, AUD/USD, and GBP/JPY on March 18

EUR/USD

Analysis:

The price decline from March 9 on the chart of the European currency in its wave level reached the level of the H4 scale. The price has reached the upper limit of the potential reversal zone. Since yesterday, a price pullback has been forming up.

Forecast:

The formation of an upward correction is expected in the next day. In the event of a breakthrough in the nearest resistance zone, the euro quotes can reach the far upper zone today.

Potential reversal zones

Resistance:

- 1.1180/1.1210

- 1.1070/1.1100

Support:

- 1.0990/1.0960

Recommendations:

The market is forming a correction in the main direction of the euro, so purchases can be quite risky. It is better to lower the lot. The best tactic is to refrain from trading during the rise, with tracking the best selling points of the pair.

Exchange Rates 18.03.2020 analysis

AUD/USD

Analysis:

The global trend of the Australian currency in the last 2 years looks to the "south" of the chart. Its last section started at the beginning of this year. The price has now reached the upper limit of the intermediate support zone. On the small scale of the chart, conditions were formed for the start of the rollback.

Forecast:

In the coming day, a flat mood of movement in the form of a "sideways" is expected. An ascending vector is not excluded. The price can rise no further than the calculated resistance. You can expect a return to the downward rate at the end of the day or tomorrow.

Potential reversal zones

Resistance:

- 0.6070/0.6100

Support:

- 0.5980/0.5950

- 0.5860/0.5830

Recommendations:

Purchases of "Aussie" are not relevant today. It is recommended to stay out of the pair's market during the price pullback up. When the exchange rate changes, sales of the instrument will be promising.

Exchange Rates 18.03.2020 analysis

GBP/JPY

Analysis:

The movement of the pair since the middle of December last year is set by a descending wave. The wave structure is formally complete. Preliminary reduction goals have been achieved. Quotes are located within a strong reversal zone. Sideways movements of the last 3 days create conditions for the beginning of a price pullback up.

Forecast:

Today, the pair's market is expected to see a general upward trend in the price movement. The upper resistance zone shows the maximum expected level of price growth in the coming days.

Potential reversal zones

Resistance:

- 131.30/131.60

- 130.30/130.60

Support:

- 129.30/129.00

Recommendations:

The potential for sales in the pair's market is exhausted. Trading is only possible within the intraday trading style. In the upcoming sessions, purchases are a priority.

Exchange Rates 18.03.2020 analysis

Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of arrows shows the formed structure and the expected movements - dotted.

Note: The wave algorithm does not take into account the duration of the tool movements in time!

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Isabel Clark,
Experto Analítico
Grupo InstaForex © 2007-2021
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