Review of the currency pair USD / CHF with the current day forecast
The direction of the price trend of the Swiss currency in the short term is set by the bearish wave of December 15 last year. In the structure of the last part of the wave, a latent correction wave is formed from the beginning of May. In the process of its development, the lower limit of the reversal zone was pressed yesterday. Given the incompleteness of its structure, it can be argued that the current trend wave will continue its course.
Yesterday's decline started a new downward zigzag wave. Today, correction is expected. The onset of the active phase of growth is expected at the end of the day. The scope of the upcoming upsurge is limited by the zone of resistance.
Boundaries of the resistance zone:
- 0.9560 / 90
Boundaries of the support zone:
- 0.9500 / 0.9470
Review of the currency pair GBP / USD with the current day forecast
Quotes of the pound sterling move according to the trend of the last, unfinished wave, which has been counting since the middle of January. In a larger model, this wave completes a bullish correction of the wrong kind. The lower limit is more likely the zone of completion of the current rise at the beginning of the 133rd price figure.
The decline in quotations of the pair, which began in recent days, completes the correction area. The potential of the downward movement is close to exhaustion. The support zone demonstrates the expected site of the turn. Change of direction is expected in the afternoon. The active phase of growth may shift over time on the following trading day.
Boundaries of the resistance zone:
- 1.3020 / 50
Boundaries of the support zone:
- 1.2940 / 10
Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C). Of such waves, all kinds of correction are composed and most of the impulses. On each considered time-frame the last, incomplete wave is analyzed.
The zones marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.
Note: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a transaction, you need to confirm the signals used by your trading systems.
