EUR/USD
Analysis:
The current upward construction of the euro since September of last year has reached the minimum possible lengthening. The counter January price decline is not yet beyond the correction. Its structure shows a zigzag and the final part (C) is formed.
Forecast:
Today, we expect the formation of an intermediate pullback. A "sideways" is likely along with the support level, however, short-term growth of the rate is also possible. The scale of the rise is limited by the calculated resistance zone. The nearest support breakthrough can be expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.1070/1.1100
Support:
- 1.1020/1.0990
- 1.0940/1.0910
Recommendations:
Purchases of the euro today can be unprofitable. It is recommended to refrain from entering the pair's market for the duration of the correction, tracking the instrument's sell signals
AUD/USD
Analysis:
On the Australian dollar chart, the formation of a downward wave structure continues. Since the beginning of the year, the wave has entered the final phase, forming the final part (C). Quotes are within the strong support zone of a large TF.
Forecast:
In the coming day, the pair is expected to move in the calculated range between the opposite zones. In the European session, an upward vector is more likely and a return to the bearish rate can be expected no earlier than the end of the day.
Potential reversal zones
Resistance:
- 0.6840/0.6870
Support:
- 0.6790/0.6760
Recommendations:
Trading on the "Aussie" market today is only possible within the intraday framework. When buying, you should reduce the lot size as much as possible. The pair's sales are more promising.
GBP/JPY
Analysis:
The main course of the pair's price movements in the short term continues to set a bearish wave from December 13. For the entire current month, the price moves sideways, forming a correction (B). The downward section from January 22 may be the beginning of a reversal.
Forecast:
Today, the general trend of the last few days to lower the exchange rate is expected to continue. In the first half of the day, the price is waiting for a short-term rise, followed by a new round of price movement down. The lower limit of the daily course of the pair is the calculated support.
Potential reversal zones
Resistance:
- 142.50/142.80
Support:
- 141.70/141.40
Recommendations:
Purchases of the tool today are unpromising. In the area of the resistance zone, it is recommended to track the reversal signals to find points of sale of the 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!
