Review and forecast for USD / CHF pair
Since January 2015, quotations of the Swiss franc main pair form a bullish wave model. The middle part of the wave (B) develops in a wide lateral corridor. At the beginning of the year, the structure of the correction was fully formed, reaching a preliminary size of elongation. At the same time, the price of the major pair reached the upper limit of the wide potential reversal zone. A combination of factors gives grounds for expecting signals for a change in the direction of the trend in the coming weeks.
The wave level of the price increase, which began on February 16, has a reversal potential. This means that there will be a high probability of further development of the wave and its transition to a larger scale.
Today, the resumption of the upward movement of the pair is expected after the completion of the downward rollback. Calculated zones.
Boundaries of resistance zones:
- 0.9400 / 0.9430
Boundaries of support zones:
- 0.9330 / 0.9300
Review and Forecast for AUD / JPY pair
As a result of a one and a half year growth rate, quotes cross pair in the middle of last year reached the reversal zone of the schedule. From this time, the price has adjusted. Extremes of the price chart on this site formed a descending "expanding triangle".
Three weeks ago, the price reached the lower boundary of the descending channel after a period of active decline and began to form a counter-construction.
The correction has the wrong form, with an elongation toward the main trend. In the structure of the wave, the final phase of the motion is lacking at the present time.
In the first half of this day, there is more likely to be a repeated pressure on the support zone. t the end of the day, a change in the direction of the intersessional trend and the beginning of price growth are expected.
Boundaries of resistance zones:
- 84.20 / 50
Boundaries of support zones:
- 83.40 / 10
Explanations of the figures:
For simplified wave analysis, a simple waveform is used that combines 3 parts namely A, B, and C. All types of correction are created and most of the impulses can be found in these waves. Every time frame is considered and the last incomplete wave is analyzed.
The areas marked on the graphs indicate the probability of a change in the direction of motion has significantly increased as calculated in the areas. Arrows indicate the wave counting following the technique used by the author. A solid background of the arrows signifying the structure has been formed while the dotted one means the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the movement of tools in time. The forecast is not a trading signal! To conduct a bargain, you need to confirm the signals used by your trading systems.
