GBP/USD
Analysis:
The chart of the main pair of the British pound has been dominated by bullish sentiment since March last year. Along the strong resistance zone since the end of February, the price has been forming a correction in the form of a shifting plane. Since May 10, the final part (C) of this wave has been developing. There are no signals of its end on the chart.
Forecast:
In the coming days, the general downward trend of the pair's movement is expected to continue. In the European session, a price pullback to the resistance area is likely. A functional decline can be expected at the end of the day or tomorrow. If the nearest support is broken, the price will continue to move down to the next settlement zone.
Potential reversal zones
Resistance:
- 1.4010/1.4040
Support:
- 1.3930/1.3900
- 1.3840/1.3810
Recommendations:
In the British pound's market, there are no conditions for purchases today. Selling against the trend of the movement can lead to losses. It is recommended to reduce the trading lot. It is optimal to refrain from entering the pair's market until the current decline is fully completed.
AUD/USD
Analysis:
On the chart of the main pair of the Australian dollar, a correction plane has been forming at the end of the upward momentum since the end of February. The structure of this wave does not look complete at the time of analysis. However, it has been developing the final part (C) since May 10.
Forecast:
In the coming sessions, the flat is expected to continue, with a downward movement vector. In the first half of the day, a short-term price rise to the resistance area is not excluded. The calculated support zone is located at the upper boundary of the preliminary target zone of the entire current wave.
Potential reversal zones
Resistance:
- 0.7640/0.7670
Support:
- 0.7570/0.7540
Recommendations:
Today, short-term sales of a reduced lot from the resistance zone are possible on the Aussie market. Therefore, it is safer for the deposit to wait out the price pullback by tracking the buy signals at its end.
USD/JPY
Analysis:
As part of the main upward trend, a complex correction structure in the form of a stretched plane has been forming on the Japanese yen chart since March. Its last unfinished section from April 23 is directed upwards. As a result, the price is approaching the lower limit of the preliminary target zone.
Forecast:
Today, the general flat mood of the movement is expected mainly with an upward vector. A short-term decline is not excluded in the first half of the day, not below the support levels. Activation and price growth can be expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 111.00/111.30
Support:
- 110.30/110.00
Recommendations:
In the Japanese yen market, short-term purchases within the intraday are possible today. However, no conditions have been created for sales yet.
GOLD
Analysis:
In the short term, the incomplete wave model is the ascending section from February 26. The decline in quotes, which began at the end of May, does not yet go beyond the correction. The price has reached the upper limit of a strong potential reversal zone.
Forecast:
Over the next day, you can expect the end of the downward course, forming a reversal on the chart, and the beginning of a price rise. The resistance zone shows the upper limit of the expected daily range.
Potential reversal zones
Resistance:
- 1840.0/1845.0
Support:
- 1810.0/1805.0
Recommendations:
In the gold market, the sales potential is now exhausted. Therefore, until clear buy signals appear, trading with this instrument is not recommended.
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!