EUR/USD
Analysis:
The chart of the pan-European currency is dominated by an upward trend. The price has been forming its final section (C) for the past month. The quotes have reached a large-scale strong resistance zone. To continue the movement, an intermediate correction must be formed.
Forecast:
Today, the conditions for changing the short-term trend are expected to be completed. In the first half of the day, a flat rise and an attempt to put pressure on the resistance zone is likely. The price can go down at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.2160/1.2190
Support:
- 1.2080/1.2050
Recommendations:
In the next 24 hours, trading on the euro market may be unprofitable. Intraday supporters can make short-term purchases with a reduced lot. It is most safe for a deposit to refrain from entering the pair's market until the correction is complete and look for buy signals at the end of it.
AUD/USD
Analysis:
The direction of the Australian dollar's trend since September 25 is set by an upward wave. The movement has entered its final phase. Quotes broke through the upper limit of strong resistance, which turned into support.
Forecast:
In the next sessions, the intermediate correction is expected to be completed and the bullish phase of the movement is expected to return. In the first half of the day, a short-term decline is likely, no further than the support zone.
Potential reversal zones
Resistance:
- 0.7520/0.7550
Support:
- 0.7440/0.7410
Recommendations:
There are no conditions for sales in the "Aussie" market today. It is recommended to look for reversal signals to buy the pair in the area of settlement support.
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 background shows the expected movements.
Note: The wave algorithm does not take into account the duration of the instrument's movements in time!