GBP/USD
Analysis:
The dominant bullish trend of the British pound led the quotes to the area of strong resistance on a large scale. Since the end of July, the price forms a flat correction along its lower border, which resembles a "pennant" in shape.
Forecast:
Today, the flat mood of the pair's movement is expected to continue. In the first half of the day, a downward vector is likely. By the end of the day in the area of settlement support, you can expect the formation of a reversal and the beginning of a price rise. When changing the course, a short-term puncture of the lower border of the zone is not excluded.
Potential reversal zones
Resistance:
- 1.3200/1.3230
- 1.3100/1.3130
Support:
- 1.3020/1.2990
Recommendations:
Only intraday supporters can afford to trade on the pound market today. When selling, you should be careful. After the appearance of reversal signals, you should change the vector of trade transactions.
AUD/USD
Analysis:
Within the dominant upward wave of the Australian dollar, the direction of short-term fluctuations is set by the correction wave algorithm. It forms a figure on the price chart that most closely resembles a "shifting plane". Its structure is nearing completion. It lacks the final segment.
Forecast:
In the coming day, the general downward mood of the price movement is expected. In the European session, a short-term rise in the area of the resistance zone is likely. The active phase of decline can be expected by the end of the day.
Potential reversal zones
Resistance:
- 0.7170/0.7200
Support:
- 0.7080/0.7050
Recommendations:
Buying on the pair's market today is risky. It is recommended to track reversal signals for selling the pair. The potential for an expected decline is limited by the estimated support.
EUR/JPY
Analysis:
The current short-term wave of the European cross is bearish and counts down from June 5. In its structure, the middle part of the wave (B) is nearing completion. It broke through the point where the entire wave began, making it wrong. The price is located in the area of strong resistance.
Forecast:
Today, we expect the end of the upward movement, the formation of a reversal and the beginning of a price decline. Breaking the lower border of the support zone within the current day is unlikely.
Potential reversal zones
Resistance:
- 126.50/126.80
Support:
- 125.60/125.30
Recommendations:
Today, it is possible to earn on the pair's market with minimal risk only within the framework of intraday. When purchasing, you should be careful because of the limited growth potential. After the appearance of clear reversal signals, it is worth looking at the pair's sales.
Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of arrows shows the formed structure, and the dotted ones show the expected movements.
Note: The wave algorithm does not take into account the duration of the tool movements in time!
