Overview and forecast for EUR / USD

On the weekly scale of the price chart of the main pair of euros, the figure of the "expanding triangle" is observed. The analysis of the structure shows incompleteness of the ascending wave, in which the last part (C) approaches the final phase. Last month, quotes reached a zone of potential reversal, formed around strong resistance. The probability of formation of a counter-wave plot on this section is high.

At the end of the current wave, the price last month worked out an intermediate correction. The price has reached a minimum elongation down, however, signals of the reversal have not yet been observed.

Today, within the framework of the calculated resistance, the session trend is expected to change. The probability of price reduction increases by the end of the day.

The boundaries of resistance zones:

- 1.2410 / 40

The boundaries of support zones:

- 1.2320 / 1.2290

Overview and forecast for USD / CAD

During the last 2 years, the quotes of the Canadian dollar major form a descending zigzag. The structure of the entire wave shows the incompleteness of the structure. The preliminary calculation of the target zone gives a benchmark for its upper boundary in the region of the 118th price figure.

After the completed correction section of the movement, from the end of October last year, a new downward wave began to form on the chart. In its framework, the first part of the movement (A) was completed, the middle part (B) is nearing the end. After its full formation follows a turn and an intensive course of the price downwards.

Today, in the first half of the day, the flat mood is expected. The breakdown of the lower support limit is unlikely. To return to the ascending course, you can count toward the end of the day, or tomorrow.

The boundaries of resistance zones:

- 1.2670 / 1.2700

The boundaries of support zones:

- 1.2580 / 50

Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed.

The areas marked on the graphs are indicated by the calculation areas, where 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 trade transaction, you need to confirm the signals of your trading systems.