GBP/USD
Analysis:
In the last six months, the trend direction of the British currency is aimed at the growth of the exchange rate. The downward section from December 13 forms an intermediate correction. In the structure of this wave, the preparation for the final pull-down is completed. The price has approached the lower limit of the settlement completion zone.
Forecast:
In the coming day, the pair's quotes will move between the nearest counter zones. Before the final change of the pair's course, repeated pressure on the resistance zone is not excluded. The beginning of an active decline can be expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.3070/1.3100
Support:
- 1.3000/1.2970
- 1.2910/1.2880
Recommendations:
When buying the pound today, you should lower the lot and be ready to exit deals at the first signals of a reversal. We recommend that you focus on searching for instrument sales signals.
USD/JPY
Analysis:
Since August last year, the trend direction of the Japanese yen has been directed to the north of the chart. The last unfinished section starts on January 8. There is a clear zigzag in its structure. The price is at the lower border of a strong resistance zone.
Forecast:
Before continuing the price rise, the pair needs to raise the current wave level. Today, the flat price movement is expected to continue in the narrow corridor between the nearest counter zones. You can wait for a descending vector.
Potential reversal zones
Resistance:
- 110.20/110.50
Support:
- 109.70/109.40
Recommendations:
Today, sales of the pair are possible. It is more reasonable to reduce the lot as much as possible. It is most safe to refrain from trading during the correction. In the support area, it is recommended to track purchase signals.
USD/CHF
Analysis:
Since April of last year, the main trend of the Swiss franc has been aimed at reducing the exchange rate. The last section counts from the end of November. Since the middle of last month, the quotes have been adjusted upwards. The structure of this movement is not complete at the time of analysis.
Forecast:
Today, the flat mood of the franc movement is expected. The decrease is likely from the intermediate resistance zone, not further than the calculated support zone. A return to price growth is likely at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 0.9830/0. 9860
Support:
- 0.9760/0. 9730
Recommendations:
The short-term trend rate is directed upwards, so selling the pair today may be risky. It is safer to wait for the downside rollback to complete and look for buy 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!
