EUR/USD
Analysis:
On the euro chart, the direction of the trend since September 3 is set by a bullish wave. The upward wave zigzag received a logical continuation in the form of an upward section from October 1.
Forecast:
At the next trading session, the formation of the price range is expected, not further than the settlement support. By the end of the day, the market is likely to shake after the news blocks leave the US and the euro will change.
Potential reversal zones
Resistance:
- 1.1000/1.1030
Support:
- 1.0940/1.0910
Recommendations:
There are no conditions for sales in the market today. In the area of the support zone, it is recommended to monitor the reversal signals to find the optimal point of purchase of the instrument.
GBP/JPY
Analysis:
Since September 3, an upward zigzag has been forming in the pair market. The last 2 weeks quotes form the correction part (B). According to several signs, it is close to completion. The price is approaching the upper border of the support area of a large TF.
Forecast:
Today, the general flat mood of the pair's movement between the nearest oncoming zones is expected. In the first half of the day, a price decline is likely. The American session has a great chance of increasing volatility and changing the vector of movement.
Potential reversal zones
Resistance:
- 132.00/132.30
Support:
- 131.20/130.90
Recommendations:
Pair sales today are possible when trading within sessions. Close them at the first sign of a reversal. The best tactic is to stay out of the market and monitor the entry signals into long positions.
Explanations: In the simplified wave analysis (UVA), the waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid background of the arrows shows the formed structure, dotted – the expected movement.
Attention: The wave algorithm does not take into account the length of time the tool moves!
