GBP/USD
Analysis:
The chart of the British pound sterling is dominated by an upward trend. The price is in the area of a strong zone of a potential reversal of a large TF. The incomplete small-scale wave dates back to December 21 last year. Its structure is not complete. The upward movement that began on February 4 has a reversal potential.
Forecast:
Today, a flat mood of the movement is expected. After an attempt to put pressure on the resistance zone, you should wait for a change in the course and a decline, up to the boundaries of the calculated support.
Potential reversal zones
Resistance:
- 1.3730/1.3760
Support:
- 1.3660/1.3630
Recommendations:
Today, selling the pound can be risky and is not recommended. The optimal tactic is to wait for the end of the pullback down and look for signals to buy the instrument at its end.
USD/JPY
Analysis:
The direction of the major trend of the Japanese yen is set by the algorithm of the descending wave of March 26 last year. Since January 6, the price has adjusted up. The structure of the correction wave has entered the final phase.
Forecast:
In the first half of the day, a sideways movement is likely today. Pressure on the support zone is not excluded. By the end of the day, the probability of a return to the upward movement rate increases, with the price rising to the resistance zone.
Potential reversal zones
Resistance:
- 106.10/105.40
Support:
- 105.30/105.00
Recommendations:
There are no conditions for selling the yen today in the pair's market. In the support area, it is recommended to use emerging signals to buy the pair.
USD/CHF
Analysis:
In the context of the dominant trend on the Swiss franc chart, an upward correction has been developing since the beginning of this year. The price has reached the lower limit of the strong reversal zone. The price decline that began last Friday does not have a reversal potential.
Forecast:
Today, the general flat vector of the pair's movement is likely. In the first half, a decline is possible, up to the support zone. Next, the exchange rate is expected to change and the price will return to the resistance area.
Potential reversal zones
Resistance:
- 0.9030/0.9060
Support:
- 0.8970/0.8940
Recommendations:
Trading on the pair market today is possible only within the intraday, with a reduced lot. Priority is given to tool purchases.
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 one shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!