EUR/USD
Analysis:
All movements of the European currency chart in recent months do not go beyond the upward wave of September 3. The depreciation of December 13 forms an internal correction in the last section (C). The price reached the lower limit of the next support.
Forecast:
The current support zone has a high chance to become a reversal level for the price chart. In the first half of the day, there may be pressure on the zone, with a puncture of the lower border. The beginning of price growth is more likely at the end of the day.
Potential reversal zones
Resistance:
- 1.1130/1.1160
Support:
- 1.1070/1.1040
Recommendations:
In the euro market today, trading is possible only within the day. Sales can be risky. It is recommended that the main attention be paid to the pair's purchases.
AUD/USD
Analysis:
A downward wave has been forming on the Australian dollar chart since September 12. Its structure looks like a rising pennant, but it lacks the final part. The small-scale bearish wave that began on December 13 has a reversal potential.
Forecast:
In the structure of the wave, conditions were full for a final dash down. In the coming day, it is expected to complete the rise of the last days, the formation of a reversal and the beginning of the course of the price down. As it develops, the downward phase can take the form of an impulse.
Potential reversal zones
Resistance:
- 0.6230/0.6260
Support:
- 0.6860/0.6830
Recommendations:
Purchases of "Aussie" are possible today, but it is necessary to take into account the small expected scope of the move up. It is recommended that the main attention be given to the search for instrument selling signals.
GBP/JPY
Analysis:
The direction of the short-term trend of the cross since August is set by an upward wave. On the daily scale of the chart, this section completes the larger model, which allows you to wait for further growth of the course. Since December 13, the price is reduced.
Forecast:
The bearish movement has a reversal potential. This indicates a high probability of complications of the current correction. Today, we can expect the continuation of the downward mood of the movement, with a preliminary attempt to pressure the resistance zone at the turn.
Potential reversal zones
Resistance:
- 142.50/142.80
Support:
- 141.60/141.30
Recommendations:
Pair's purchases are premature, it is necessary to wait for the completion of the current decline. In the coming day, the main focus of trade should be paid to the pair's sales.
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!
