EUR/USD
Analysis:
The direction of the European currency's trend has been set by a bullish wave since September. Its structure has reached the minimum possible proportions. At the end of December, a wave develops downwards. With equal opportunity, it can complicate the current upswing or give rise to a new short-term trend.
Forecast:
The bullish rally that started at the end of last week will continue today. Its completion can be expected by the end of the day. The most suitable reversal zone is the calculated resistance. The exchange rate is more likely to change on the next trading day.
Potential reversal zones
Resistance:
- 1.1150/1.1180
Support:
- 1.1090/1.1060
Recommendations:
In the framework of intraday, euro purchases are possible today. It is better to lower the lot. In the resistance area, it is recommended to track the instrument's sell signals.
AUD/USD
Analysis:
The downward section from December 31 completes the downward wave of the Australian dollar that started in September. Quotes have reached the upper limit of a strong support zone for a large TF. Since last week, the pair's price has been adjusted.
Forecast:
At the next trading sessions, the completion of the conditions for the reversal and the beginning of the depreciation of the pair is expected. In this case, a short-term puncture of the upper limit of the resistance is not excluded. The potential reversal zone will again be supported.
Potential reversal zones
Resistance:
- 0.6890/0.6920
Support:
- 0.6830/0.6800
Recommendations:
Today, it is recommended to refrain from entering the pair's market until clear signals for selling the instrument appear.
GBP/JPY
Analysis:
As part of the main wave, a downward wave has been formed on the cross chart since December 13. Judging by the potential of the first part (A), all this movement claims to be a full-fledged correction. Since the end of the past, the price has been moving mainly in the lateral plane, forming the middle part (B).
Forecast:
Today, movement is expected between the nearest oncoming zones with a common upward vector. The decline in the European session is unlikely to push the lower limit of support. The resistance zone is located on the lower border of the wide potential reversal zone.
Potential reversal zones
Resistance:
- 143.80/144.10
Support:
- 142.90/142.60
Recommendations:
The sale of the pair is untimely. Today, we recommend that you focus on searching for signals to buy a pair.
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 and the dotted background shows the expected movements.
Note: The wave algorithm does not take into account the duration of the tool's movements in time!
