EUR/USD
From May 23, an upward wave is forming on the chart of the European currency, which takes the place of a correction in the main trend. Drawing the lines along with the price extremes, an upward expanding triangle is traced. Since June 25, a bearish wave has been forming within the wave. The current wave of potential to the present time is equal to the entire bullish wave. The price reached the support zone of a large TF. Reversal signals have not yet been formed.
Forecast:
Today, the flat mood of the movement is expected. An upward vector is expected in the morning. By the end of the day, the chance of a reversal and return of the price to the support area increases.
Recommendations:
Trade on the euro is possible today only within-session style. When purchasing, it should be possible to reduce the size of the lot. Sell signals are more promising, they should be monitored in the area of the resistance zone.
Resistance zone:
- 1.1270/1.1300
Support zone:
- 1.1220/1.1190
AUD/USD
Price fluctuations of the Australian dollar in recent weeks are dictated by the algorithm of the upward wave of May 21. The correctional wave and unfinished for today. The price decrease of July 4 forms the correction of the last part (C). The price rise that began yesterday has an unconfirmed reversal potential.
Forecast:
Today, flat price movements are expected between the nearest oncoming zones. An upward vector is expected in the morning. High probability of oncoming movements. In the area of the resistance zone, you can expect a change of rate and the formation of a rollback down.
Recommendations:
Before the appearance of clear reversal signals, trading on this pair is quite risky. Only short-term intra-session transactions can be used, as described in the projected sequence of movements.
Resistance zone:
- 0.7020/0.7050
Support zone:
- 0.6960/0.6930
GBP/JPY
On the cross chart from March, the bearish trend rate prevails. Over the past month, a bearish correction has developed in the side flat. In the bearish wave that began on July 1, the correction part (B) was formed all last week, which is still incomplete.
Forecast:
Today, the continuation of the price mood of the past days is expected. After a likely attempt to put pressure on the support zone, the rate is expected to rise again to the resistance zone. Return to the main rate of movement can be expected for the next day.
Recommendations:
The current flat area is the most reasonable to skip. For intraday trading, purchases are possible, but the lot should be reduced. In the area of the calculated resistance, it is recommended to track the signals of entry into short positions for this pair.
Resistance zone:
- 136.00/136.30
Support zone:
- 135.40/135.10
Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show areas with the highest probability of reversal. The arrows indicate the wave marking according to the method used by the author, the solid background is the formed structure, the dotted ones are the expected movements.
Note: The wave algorithm does not take into account the duration of tool movements over time.
