Overview of the currency pair USD / CHF with the current day forecast
The downward wave in the chart of the dollar-franc pair, which began in the middle of December of last year, reached a new wave level. On a weekly chart scale, a bearish structure is traced, and from the end of 2015 it forms a correctional plane. A breakthrough earlier this week turned the figure into a "shifting plane", opening new target levels for further decline. The preliminary calculation indicates the upper boundary of the calculation area in the area of 2 price figures below the current price.
Before a new rise on the basic trend of the price, it is necessary to complete a hidden correction, which continues from the middle of May. The nearest area, where the probability of its completion is high, will be the zone of resistance. The active phase is likely in the afternoon.
Boundaries of the resistance zone:
- 0.9490 / 0.9520
Boundaries of the support zone:
- 0.9410 / 0.9380
Overview of the currency pair AUD / JPY with the current day forecast
The result of the annual price rise of the Australian dollar / Japanese yen cross was the price contact with a potential reversal zone. In its borders, there are several levels of resistance of different scale, including the largest one. Given the corrective nature of the rising wave and the completeness of the structure, its end can be expected in the coming weeks.
The price decrease, which began last week, demonstrated a rather high potential. There is a great chance that this forms the first part of the reversal model. The swing stroke down design is close to exhaustion.
Today, it is expected to form a reversal and the beginning of an upward price movement. The growth phase is more likely at the end of the day or tomorrow.
Boundaries of the resistance zone:
- 88.60 / 90
Boundaries of the support zone:
- 87.80 / 50
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 line 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.
