EUR/USD
Analysis:
On the chart of the major European currency, the trend direction is set by the bearish wave of January 6. In a larger wave model, this section takes the place of the correction. The wave structure is nearing completion. The quotes have reached the upper limit of the strong potential reversal zone.
Forecast:
In the next day, it is expected to complete the upward pullback, reverse, and re-decline in the area of the support zone. Activity is expected towards the end of the day.
Potential reversal zones
Resistance:
- 1.1790/1.1820
Support:
- 1.1720/1.1690
Recommendations:
Today, there are no conditions for purchases in the euro market. It is recommended to track signals for selling the pair in the area of the calculated resistance.
AUD/USD
Analysis:
As part of the dominant bullish momentum on the Australian dollar chart, a downward correction has been developing since the end of February. The price reached the support zone of the weekly scale. The wave structure looks complete. The price rise that began yesterday has a reversal potential.
Forecast:
Today, the general upward mood of the pair's movement is expected. In the first half of the day, the probability of a flat rate with a bearish vector remains, no further than the support zone. The active growth phase is likely at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 0.7650/0.7680
Support:
- 0.7580/0.7550
Recommendations:
Trading the Australian dollar today is only possible within the intraday, a fractional lot. Sales are riskier. The main attention should be paid to the search for buy signals.
GBP/JPY
Analysis:
Over the past year, as part of the price momentum, the pair's quotes have reached a wide area of a potential reversal of the largest scale of the chart. The latest, incomplete wave model on the trend is counting down from February 26. In the structure of the wave, the final part (C) is nearing completion.
Forecast:
Today, the general flat mood of the pair's movement is most likely, mainly with a downward vector. By the end of the day, in the area of the support zone, you can expect a reversal and a return to the ascending rate.
Potential reversal zones
Resistance:
- 153.10/153.00
Support:
- 152.20/151.90
Recommendations:
Sales go against the trend direction and can be unprofitable. It is safer to refrain from trading during the pullback and look for buy signals at the end of it.
GOLD
Analysis:
The direction of the trend in the gold market is set by the bearish wave of August 6 last year. Since February 26, the formation of a correction movement in the form of a horizontal plane continues. The price yesterday pushed through the intermediate resistance, opening the way to the upper border of the formed price corridor.
Forecast:
Most of the next day, the price will move in the lateral plane. At the end of the day or tomorrow, you can count on the activation and rise of quotes in the area of the resistance zone.
Potential reversal zones
Resistance:
- 1755.0/1760.0
Support:
- 1725.0/1720.0
Recommendations:
Today, there are no conditions for sales in the gold market. It is recommended to track the signals for the purchase of the instrument in the area of settlement support. The lifting potential is limited to the upper zone.
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 line shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!