EUR/USD
The wave level of the bearish wave from June 25 was equal to the scale of the previous price rise, which indicates the independence of the current bearish structure. The price reached the zone of a potential large-scale reversal, in which a counter correction began to form 3 days ago. Its structure does not complete the final part.
Forecast:
Today, the continuation and completion of the current last days of the flat movement are expected. In the first half of the day, an upward movement vector is likely. The limit level of the rise shows the resistance zone. Return to the downward rate is expected by the end of the day or tomorrow.
Recommendations:
Euro purchases today are risky, they can only be used for "scalping". At the end of the correction, it is recommended to track the reversal signals to sell the instrument.
Resistance zone:
- 1.1250/1.1280
Support zone:
- 1.1200/1.1170
AUD/USD
For the last month and a half, the price movements of the Australian dollar are subject to the algorithm of the upward wave of May 25. The structure does not show completeness. The price decline of July 4 is not yet beyond the internal correction. It lacks the final part.
Forecast:
Before overcoming the decline, a short-term price rise is expected today. The resistance zone shows the most likely reversal area. Volatility may increase at the end of the day.
Recommendations:
Buying "Aussie" today can be risky because of the sharp counter-kickbacks, it is wiser to refrain from them. In the area of the calculated resistance, it is recommended to keep track of the pair's sell signals.
Resistance zone:
- 0.6950/0.6980
Support zone:
- 0.6900/0.6870
GBP/JPY
On the cross-country chart in the bearish wave dominating from March, the last part of it is starting from July 1. As part of the unfinished wave from the 3rd, the price forms a corrective zigzag, which has not been completed yet.
Forecast:
Today, it is expected that the price will continue to move in the current flat corridor between the nearest counter zones. In the first half of the day, an upward movement vector is more likely. Completion of the entire bullish wave is expected by the end of the current day.
Recommendations:
Short-term purchases of the pair are possible today, but it is more reasonable to reduce the working lot. In the area of resistance, it is recommended to track the reversal signals to find the entry point to a short position on the instrument.
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.
