FX.co ★ Simplified wave analysis and forecast for EUR/USD, GBP/USD, USD/CHF, USD/CAD, GBP/JPY on June 28

EUR/USD

Analysis:

Since the middle of last year, the quotes of the European currency have been forming a flat horizontal descending plane. It corrects the previous trend wave. The last bearish section from May 25 completed its structure. The upward movement from June 18 has a reversal potential and may be the beginning of the next wave of the trend.

Forecast:

In the coming day, the price is expected to move in the corridor between the opposite zones. In the first half of the day, you can count on a descending vector. By the end of the day, the probability of a reversal and re-growth in the area of the resistance zone increases. When changing the direction, a short-term puncture of the lower support border is not excluded.

Potential reversal zones

Resistance:

- 1.1960/1.1990

Support:

- 1.1890/1.1860

Recommendations:

Trading on the euro market today is risky and not recommended. It is optimal to refrain from trading transactions until clear purchase signals appear.

GBP/USD

Analysis:

For more than a year on the main pair of the British pound chart, the trend direction sets an upward momentum. Since the end of February, the price has formed a correction plane along a strong resistance zone. By now, its structure looks complete. Since June 21, an upward potential reversal model has been formed. It can be the beginning of a new wave on the trend.

Forecast:

Today, there is a high probability of a flat decline to the support zone in the first half of the day. However, by the end of the day, you can expect an increase in activity, a reversal, and the beginning of price growth. The calculated zones show the most probable boundaries of the daily range.

Potential reversal zones

Resistance:

- 1.3960/1.3990

Support:

- 1.3860/1.3830

Recommendations:

Sales of the British pound today do not have much potential and can be unprofitable. Therefore, it is recommended to pay main attention to the search for buy signals in the support area.

USD/CHF

Analysis:

The price fluctuations of recent days on the Swiss franc chart have completed the current horizontal upward correction. It has a relatively rare form of "double three" on Forex. The price decline that began on June 18 has a reversal potential. When it is confirmed, the next wave of the downward trend starts further.

Forecast:

In the first half of the day today, this currency pair is expected to have a flat mood. An ascending vector is possible. At the end of the day or tomorrow, the probability of a reversal and the beginning of an active decline in the pair's exchange rate increases.

Potential reversal zones

Resistance:

- 0.9230/0.9260

Support:

- 0.9150/0.9120

Recommendations:

Franc trading today can be safe only within the framework of individual trading sessions. Moreover, purchases have a small potential. Therefore, it is more promising to refrain from entering the pair's market until clear sell signals appear in the area of the calculated resistance.

USD/CAD

Analysis:

On the Canadian dollar major chart, a hidden counter correction ended on June 21 within the framework of the dominant bearish impulse. The downward movement of the price that began after this has a pronounced reversal potential. After the formation of an intermediate pullback, the price decline will continue.

Forecast:

Today, the pair's market is expected to move quotes in the lateral plane, in the corridor between the opposite zones. An upward vector is more likely in the next session. An increase in volatility and a continuation of the decline can be expected by the end of the day or tomorrow.

Potential reversal zones

Resistance:

- 1.2340/1.2370

Support:

- 1.2270/1.2240

Recommendations:

Until clear sell signals appear in the area of the calculated resistance zone, trading on the Canadian dollar market is not recommended.

GBP/JPY

Analysis:

On the chart of the pound/yen pair, a complex downward correction has recently been completed in the form of a shifting plane. Since June 21, a new wave of the main trend has started. Moreover, within its framework, the price has been adjusted in recent days. As a result, the correction structure is close to the end.

Forecast:

It is expected to complete the current decline in the coming day, the formation of a reversal, and the beginning of active price growth. The calculated resistance shows the upper limit of the probable daily range.

Potential reversal zones

Resistance:

- 154.60/154.90

Support:

- 153.50/153.20

Recommendations:

There are no conditions for the sale of the pair today. However, it is recommended to monitor all emerging signals for the purchase of the instrument.

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, and the dotted one shows the expected movements.

Attention: The wave algorithm does not consider the duration of the instrument's movements in time!