EUR/USD
Analysis:
From the beginning of September, an upward structure has been formed on the euro chart, resembling an ascending pennant in appearance. The wave structure develops the final part (C), which has reached the minimum possible elongation. Since the end of last week, the price has been rolling back down from the resistance zone.
Forecast:
During the next trading sessions, the pair is expected to complete the corrective decline, form a reversal and start a price rise. When changing the course, the probability of a short-term puncture of the lower boundary of the settlement support is not excluded.
Potential reversal zones
Resistance:
- 1.1170/1.1200
Support:
- 1.1110/1.1080
Recommendations:
Sales of the euro today are not very promising and can be profitable. It is recommended to refrain from trading during the decline and monitor the signals of entering long positions.
AUD/USD
Analysis:
In the structure of the last bearish wave unfinished for the current day of September 12, conditions are formed for a significant price reduction. An internal zigzag of the last part (C) is formed in the wave structure. The plot on December 13 has a reversal potential.
Forecast:
Today, the pair is expected to move flat in the price corridor between the nearest zones of the opposite direction. In the first half of the day, an upward movement vector is likely. By the end of the day, you can wait for the completion of the rise and the beginning of the price move down. The active phase of decline is more likely tomorrow.
Potential reversal zones
Resistance:
- 0.6920/0.6950
Support:
- 0.6860/0.6830
Recommendations:
Trading on the "Aussie" market today is possible within the intraday. In the priority of the purchase, the lot is reasonable to reduce. In the area of the resistance zone, it is recommended to monitor the reversal signals to find the selling points of the instrument.
Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure for determining the expected movement.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!
