FX.co ★ Simplified wave analysis of EUR/USD and AUD/USD on December 11

EUR/USD

Analysis:

On the euro chart, the upward plane continues, which started in early September. In the structure of the wave, the final part (C) started on November 14. Within its framework, the first 2 parts were formed. The upward movement that began on December 5 has a reversal potential.

Forecast:

In the coming days, there is a high probability of continuing the current rise in the pair's rate. In the first half of the day, a short-term decline in the support zone is not excluded. The nearest resistance zone can be pushed up by the end of the day.

Potential reversal zones

Resistance:

- 1.1180/1.1210

- 1.1110/1.1140

Support:

- 1.1060/1.1030

Recommendations:

Sales of the euro are irrelevant today. It is recommended to monitor the buy signals at the end of all counter price rollbacks.

AUD/USD

Analysis:

The main direction of the price movement on the Australian dollar chart is set by the bearish wave of September 12. The wave looks like a flat pennant on the chart. The structure lacks the final part. From December 3, a reversal structure is formed down.

Forecast:

In the next trading sessions, it is expected to complete the preparation for the price breakthrough on the wave trend. In the first half of the day, you can expect a price pullback to the resistance zone. The active reduction can occur by the end of the day. A breakthrough in the lower support boundary is unlikely today.

Potential reversal zones

Resistance:

- 0.6850/0.6880

Support:

- 0.6790/0.6760

Recommendations:

Purchases of the pair are possible today, but the trading lot should be reduced as much as possible. At the first sign of a reversal, the transaction must be closed. It is recommended that you focus on the search for pair sell signals.

Explanations: 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 for determining the expected movement.

Attention: The wave algorithm does not take into account the duration of the tool movements in time!