EUR/USD
The unfinished wave of the short-term euro bearish scale, June 25. In its structure, the first 2 parts (A+B) are fully formed. On July 18, the final section was launched, in which a correction zigzag of small scale is formed.
Forecast:
Today, we expect a general upward course of the price movement. The nature of the oscillations is likely to be flat, with acceleration in the final phase. The completion of the ascent is most likely within the framework of design resistance, but a short-term puncture of its upper boundary of the zone is not excluded.
Recommendations:
Sales of the euro are premature. Today, the main focus is recommended to make purchases of the instrument, while taking into account the temporary nature of the upcoming appreciation. In the area of the resistance zone, it is worth starting the search for sale signals.
Resistance zone:
- 1.1180/1.1210
Support zone:
- 1.1130/1.1100
AUD/USD
The downward wave, which began on July 19, completed the bullish wave structure lasting for the last 2 months. The current wave level of bearish movement is already equal to the level of the previous wave. The nature of price fluctuations is close to momentum. There is a bullish correction in the wave, which lacks the final segment.
Forecast:
At the next trading sessions, flat price fluctuation is expected. In the first half of the day, an upward movement vector is likely. Return to the main course of movement can be expected at the end of the day or tomorrow.
Recommendations:
Short-term purchases of the pair are possible today, but the lot should be reduced. It is recommended to monitor the pair's sell signals in the area of the calculated resistance.
Resistance zone:
- 0.6920/0.6950
Support zone:
- 0.6870/0.6840
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.
