Review and forecast for USD / CHF pair
The quotes of the Swiss franc major pair are corrected in the previous trend segment from the end of October. Since December 1, the bullish section of the price movement has started and its wave level allows to rank it at the beginning of the reversal model. After its completion, the structure of the main bull wave will have no barriers to the formation of the final part (C). The middle part of the structure (B) approaches the end of the wave.
In the coming trading sessions, the price should be completed by its preparation for a bullish breakout. The decline will probably not exceed the limits. The active phase of growth is expected at the end of the day or tomorrow.
Boundaries of resistance zones:
- 0.9960 / 90
Boundaries of support zones:
- 0.9880 / 50
Review and Forecast for GBP / JPY pair
The instrument's last rising wave of the cross on the daily scale of the price chart is nearing completion. The structure of the wave was formed with proportions that are achieved including the preliminary increase targets.
The incoming descending section of the chart from September 21 has a sufficient high wave level to give rise to a new trend in a downward direction. In the structure of the wave, the first two parts (A and B) has been completed. Since December 8, a small-scale reversal model began. After the completion of its average corrective part, the exchange rate of the inter-week trend will become relevant.
Today, the probability of continuing the upward movement which dominated last week is high. In the morning, pressure on the support zone is possible. The active phase has more chances to start by the end of the day.
Boundaries of resistance zones:
- 152.30 / 60
Boundaries of support zones:
- 151.20 / 150.90
Explanations of the figures:
For simplified wave analysis, a simple waveform is used that combines 3 parts namely A, B, and C. All types of correction are created and most of the impulses can be found in these waves. Every time frame is considered and the last incomplete wave is analyzed.
The areas marked on the graphs indicate the probability of a change in the direction of motion has significantly increased as calculated in the areas. Arrows indicate the wave counting following the technique used by the author. A solid background of the arrows signifying the structure has been formed while the dotted one means the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the movement of tools in time. The forecast is not a trading signal! To conduct a bargain, you need to confirm the signals used by your trading systems.