EUR/USD
Analysis:
The global trend of the euro in the last two years is directed to the "south" of the chart. The last, unfinished section has been counting since June of last year. This January, the final part of the wave (C) started and there is a strong support level below the current rate.
Forecast:
The upward pullback is expected to be completed in the next day. Pressure on the calculated resistance is possible, with a puncture of its upper border. A return to the main rate is likely by the end of the day.
Potential reversal zones
Resistance:
- 1.1030/1.1060
Support:
- 1.0960/1.0930
Recommendations:
Purchases of the euro are still unpromising. We recommend that you pay full attention to searching for the pair's sell signals.
AUD/USD
Analysis:
The bearish wave continues its development on the Australian dollar chart. Since the beginning of the year, the final part (C) has begun, which has a pronounced impulse form. Quotes are located in the area of a strong potential reversal zone.
Forecast:
In the structure of the price movement, there has been a counter-pullback. The movement is not completed, which allows you to wait for the next session to raise the rate. As a minimum, this will be a movement in the lateral plane and it can be quite long in time.
Potential reversal zones
Resistance:
- 0.6770/0.6800
Support:
- 0.6710/0.6680
Recommendations:
The growth of the pair's rate is directed against the trend, so purchases can be unprofitable. It is recommended to refrain from trading during the correction and monitor the instrument's sell signals.
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!
