EUR/USD
Analysis:
An upward wave pattern has been forming on the euro chart since the beginning of September. The appearance of its structure resembles a horizontal stretched plane. Since mid-November, the final section has been developing. The price is approaching the lower boundary of the strong zone of a potential reversal.
Forecast:
In the first half of the day today, you can expect a continuation of yesterday's flat of the pair. In the European session, the probability of pressure on the resistance zone is high. At the end of the day, the start of a price reduction is expected.
Potential reversal zones
Resistance:
- 1.1080/1.1110
Support:
- 1.1020/1.0990
Recommendations:
Today is not the best time to trade in the euro market. Purchases are premature: it is necessary to wait for the completion of the rollback down. Sales within the session can be quite risky, so it is better to take a minimum lot.
AUD/USD
Analysis:
A downward wave has been developing on the Australian dollar chart since September 12. It looks like a horizontal pennant. The first parts (A+B) are formed in the structure. In the last part (C) from the middle of last month, a correction is formed.
Forecast:
Today, the price is expected to move in the corridor between the nearest counter zones. The downward vector can be replaced by growth at the end of the day. Before the beginning of the active decline phase, there is a high probability of a pullback up.
Potential reversal zones
Resistance:
- 0.6850/0.6880
Support:
- 0.6790/0.6760
Recommendations:
In the coming sessions, sales of the pair are possible, but you need to be prepared for sharp oncoming price rises. The conditions for long-term sales of "Aussie" have not yet been created.
Explanations: 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 for determining the expected movement.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!