EUR/USD
The short-term wave pattern of the euro is formed by an upward construction from August 1. The wave has a reversal potential. In its structure, the first 2 parts took shape, the third develops. In recent days, the price rolled back down.
Forecast:
The correctional phase of the movement is expected to be completed today. Today, there is a news block of important data, the release time of which can become a reference point of the reversal and the beginning of an intensive price rise. Before changing the rate, a short-term puncture of the lower support border is possible.
Recommendations:
Sales of the euro today is not very promising. The main attention should be paid to the search for reversal signals to enter long positions.
Resistance zone:
- 1.1060/1.1090
Support zone:
- 1.1000/1.0970
GBP/JPY
From September 3, quotes of the pair are going up, forming a movement close to the momentum. The whole wave completes the upward pattern of August 5. In recent days, the chart is adjusted downwards. The current resistance zone is intermediate.
Forecast:
Today, it is expected to continue the flat mood of the movement in the range between the nearest oncoming zones. In the first half of the day, the downward vector will dominate. Further, in the area of the support zone, we should wait for a change in rate and the beginning of growth.
Recommendations:
Sales today are possible within the intra-session style. It is safer to refrain from trading during the correction and look for buy signals at its end.
Resistance zone:
- 133.30/133.60
Support zone:
- 132.50/132.20
Explanations to figures: Waves in the simplified wave analysis (UVA) consist of 3 parts (A-B-C). The last, incomplete wave is analyzed. Zones show the 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 structure formed, the dotted one is the expected movements.
Attention: The wave algorithm does not take into account the length of time the instrument moves.
