The downward wave has shaped the short-term movement of the British pound for the past six months. Since mid-January, a counter-trend bullish wave has been forming, showing strong reversal potential. Currently, the price is near the upper boundary of a major weekly reversal zone.
Forecast:At the start of the upcoming week, sideways movement is expected, with a possible decline toward support before a reversal and price recovery. The resistance zone is located at the lower boundary of the preliminary target area.
AUD/USD
Analysis:The downward wave pattern in the Australian dollar has been completed. Over the past two weeks, prices have formed a bullish reversal wave of a higher wave level. The final section (C) is currently forming, and the price has reached the lower boundary of a potential reversal zone.
Forecast:In the coming days, the pair is likely to continue its sideways movement with a slight upward bias. A test of resistance and a brief breakout of its upper boundary is possible. However, by the weekend, a reversal and decline are more likely.
USD/CHF
Analysis:Since late December, an upward wave has defined the movement of USD/CHF. However, this wave now appears to be complete. Since early February, the pair has been in a correction phase, which is nearing its final stage.
Forecast:Throughout the week, a sideways movement is expected. In the next few days, a bearish bias is more likely, with potential pressure on the lower support boundary. A reversal and renewed growth may occur by the end of the week.
EUR/JPY
Analysis:The incomplete upward wave pattern in EUR/JPY has been developing since August 5. The price extremes form a shifting horizontal plane, with one final wave section yet to be completed. The calculated resistance level is at the lower boundary of a weekly reversal zone.
Forecast:A downward trend is expected in the coming days, followed by a sideways drift after touching the support zone. A temporary breakout below support is possible, with an increased likelihood of an upward reversal by the weekend.
EUR/GBP
Analysis:EUR/GBP has followed a long-term downtrend, which remains incomplete. Since November, prices have been consolidating, forming a prolonged correction, which is still ongoing. Over the past three weeks, the pair has remained near the upper boundary of its established trading range.
Forecast:During the first half of the week, sideways movement is likely, with a possible test of resistance. A trend reversal and decline toward support are expected after resistance is tested.
U.S. Dollar Index (DXY)
Analysis:Since September, the U.S. Dollar Index has been in a bullish wave. However, since February 3, a bearish wave has emerged, reaching the upper boundary of a potential reversal zone. The latest correction phase is still incomplete.
Forecast:In the coming days, the current decline should conclude. A reversal is expected near support, leading to a resumption of dollar strength by the end of the week or early next week.
Explanation of Simplified Wave Analysis (SWA)
All waves consist of three parts (A-B-C).Only the latest incomplete wave is analyzed on each timeframe.Dotted lines indicate expected price movements.Time duration is not factored into wave projections.