EUR/USD

Analysis:

The major of the European currency continues its steady movement to the north of the chart. The last trending section starts on November 4. After the price surge this week, the price needs to form an intermediate correction. The lower limit of the preliminary target zone of the current wave is indicated by the calculated resistance.

Forecast:

Today, in the first half of the day, a flat mood of the movement is likely, with a decrease in the support area. By the end of the day, the probability of increased volatility and a return to price growth increases.

Potential reversal zones

Resistance:

- 1.2210/1.2240

Support:

- 1.2120/1.2090

Recommendations:

There are no conditions for sales in the euro market today. At the end of the upcoming pullback in the area of settlement support, it is recommended to track the instrument purchase signals.

GBP/JPY

Analysis:

The global trend of the pair is upward. As part of the dominant wave, a horizontal correction in the form of a pennant is formed on the chart for the entire past month. Its structure lacks the final part (C). The price is within a strong reversal zone of a large TF.

Forecast:

On the current day, there is a high probability of a downward movement of the pair. At the European session, preliminary pressure on the resistance zone is possible.

Potential reversal zones

Resistance:

- 140.10/140.40

Support:

- 138.80/138.50

Recommendations:

Purchases of the pair today can be very risky and is not recommended. The main attention is given to the search for sales signals.

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 the arrows shows the formed structure, and the dotted one shows the expected movements.

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