EUR/USD
On the chart of the major European currency, the main vector of movement was set by the upward wave from August 1. Its wave level indicates that the wave will be at least a correction of the previous short-term wave. Since yesterday, the movement has formed the middle part (B).
Forecast:
The current correction may take the form of a flat, but a wave zigzag is more likely, with a decrease in the price to the support zone. Movement can drag on all day. Reversal and rise are expected at the end of the day, or tomorrow.
Recommendations:
When selling the euro today, it's worth lowering the lot and be prepared for sharp price rollbacks. The best option is to refrain from trading during the correction and look for signals to buy the pair at its end.
Resistance zone:
- 1.1230/1.1260
Support zone:
- 1.1160/1.1130
USD/JPY
The result of the development of the bearish wave from the end of April, the quotations of the Japanese yen has reached the upper boundary of the zone of a potential reversal of a major scale. The last section of August 1 completed the structure. The upward section, which began on August 5, has a potential reversal wave level.
Forecast:
After the current decline since yesterday, we should expect the continuation of the price rise and its transition to a larger scale of movement. In the morning, pressure on the support zone is possible. Short-term puncture of the lower boundary of the zone is not excluded.
Recommendations:
When selling the pair today, caution should be exercised due to the expected low potential of the move. It is recommended to monitor the emerging reversal signals on your vehicle to find the entry point to long positions.
Resistance zone:
- 106.80/107.10
Support zone:
- 106.10/105.80
AUD/USD
The main direction of the "Aussie" rate is set by the downward wave of July 19, which is at the end of the medium-term bearish trend. After the internal pullback that ended yesterday, the price pushed a strong price level.
Forecast:
Before continuing to reduce the price, it is necessary to consolidate the achieved values. In the first half of the day today, we expect a flat attitude of the movement. An upward course is likely, but not further than the calculated resistance.
Recommendations:
Buying the pair today is possible only on the smallest TF. In the area of the resistance zone, it is recommended to track the rate reversal to find the signals of the instrument sale.
Resistance zone:
- 0.6750/0.6780
Support zone:
- 0.6690/0.6660
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.
Attention: The wave algorithm does not take into account the length of time the instrument moves.
