EUR/USD
Analysis:
The global trend of the European currency is downward. Its last section dates back to August last year. Moreover, from the beginning of January, the final part (C) develops as an impulse. And the counter support zones do not have a significant impact on the price decline.
Forecast:
In the coming day, the general downward movement vector is expected to continue. Also, in the first half of the day, a short-term price increase is not excluded, no further than the resistance zone. The calculated support is located at the upper edge of a wide area of a potential reversal of a large TF.
Potential reversal zones
Resistance:
- 1.0930/1.0960
Support:
- 1.0860/1.0830
Recommendations:
Purchases of the euro today is hopeless. We recommend that you pay special attention to searching for sales signals for the instrument.
AUD/USD
Analysis:
The dominant price decline of the Australian dollar since the end of last year completes a larger wave of the trend. After the next section, the price decrease forms an intermediate pullback and it is close to completion.
Forecast:
In the current day, the price of "Aussie" is waiting for the end of the growth, the formation of a reversal and the beginning of the price move down. The calculated support shows the lower limit of the expected daily range.
Potential reversal zones
Resistance:
- 0.6720/0.6690
Support:
- 0.6650/0.6620
Recommendations:
Due to the expected small scale of the upward move, the pair's purchases may be unprofitable today. It is recommended to refrain from entering the pair's market until clear reversal signals appear and the main attention should be paid to sales.
GBP/JPY
Analysis:
A descending wave structure has been formed on the pair's chart since mid-December. In its structure, the first 2 parts (A-B) are completed. In the last part (C), an interim pullback has been developing since the beginning of last week.
Forecast:
Today, the most likely price movement is a purple character. The borders of the price corridor show counter zones. In the first half of the day, a short-term decline is not excluded. Then you should wait for the ascent to continue until it is completed.
Potential reversal zones
Resistance:
- 142.20/142.50
Support:
- 141.30/141.00
Recommendations:
Trading on the pair's market today is possible within the intraday style, according to the expected sequence. It is more reasonable to reduce the lot size. In the area of the calculated resistance, it is recommended to track the instrument's sell signals.
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 and the dotted background shows the expected movements.
Note: The wave algorithm does not take into account the duration of the tool's movements in time!