GBP/USD
Analysis:
The unfinished wave structure of the British pound is counting down from December 21. In the structure of this wave, the middle part (B) is nearing completion. The upward section of the chart that started yesterday has a reversal potential and can be the beginning of the final part (C).
Forecast:
In the current day, the price is expected to move mainly in the horizontal plane. If you try to put pressure on the resistance zone, it is likely to change direction and gradually decline to the support zone. A second upward movement is worth waiting for at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.3580/1.3610
Support:
- 1.3500/1.3470
Recommendations:
In the pound market, trading today is recommended within the intraday framework. Sales should take into account the limited potential for decline. Purchases of the instrument from the support zone are more promising.
USD/JPY
Analysis:
The current section of the main bearish trend of the Japanese yen counts down from November 9. In its structure over the past month, a complex correction was formed in the form of a stretched plane. This wave model looks formed and is close to completion.
Forecast:
In the first half of the day, an upward movement is expected up to the full completion of the current rise. Further, a sideways drift is likely, after which you can count on the beginning of a price decline.
Potential reversal zones
Resistance:
- 104.50/104.80
Support:
- 103.90/103.60
Recommendations:
Before the appearance of clear reversal signals, there are no conditions for selling in the yen market. When buying, you should take into account the limited potential of the current rise.
USD/CHF
Analysis:
The main trend of the Swiss franc major chart is directed downwards to strengthen the position of the national currency. Since December 21, the price is adjusted, forming a stretched plane. The correction structure is not complete. Its final section is being formed.
Forecast:
In the first half of the day, a sideways mood is possible today. A short-term decline to the support area is possible. Next, you should wait for activation and a second attempt to grow up to the calculated resistance.
Potential reversal zones
Resistance:
- 0.8950/0.8980
Support:
- 0.8880/0.8850
Recommendations:
In the next day, it will be promising to buy a pair in the franc market. Given the corrective nature of the rise, it is more reasonable to reduce the lot.
Explanation: In 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 one shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the instrument's movements in time!