GBP/USD
Analysis:
The upward trend of the British pound, which began in March, brought the quotes to the values of the price a year ago. The last, incomplete section of the trend starts on November 2. The price reached the lower limit of the intermediate resistance zone.
Forecast:
Today, price fluctuations are expected to move to the side plane between the opposite zones. The upward vector can be expected towards the end of the day.
Potential reversal zones
Resistance:
- 1.3420/1.3450
Support:
- 1.3320/1.3290
Recommendations:
Today, trading the British pound is only possible within the intraday style with a reduced lot. Sales can be unprofitable. It is safer to buy the tool at the end of the rollback in the area of the support zone.
USD/JPY
Analysis:
In the short term, two parallel wave structures of different scales are formed on the Japanese yen chart. Since November 9, a descending wave of hourly TF has been developing. On November 23, the M15 bear wave started. It forms the final part (C) in the construction of the senior TF. In the structure of a small wave, the price should complete the correction.
Forecast:
Today, the current price rise in recent days is expected to end. Then you can count on a reversal and the beginning of a price decline. A change in the rate is likely in the US session.
Potential reversal zones
Resistance:
- 104.70/105.00
Support:
- 104.10/103.80
Recommendations:
When conducting trade transactions today, you should take into account the limited potential for price growth. It is optimal to refrain from trading until the end of the rise and look for conditions for selling the pair in the area of the resistance zone.
EUR/JPY
Analysis:
In the pair's market, the general trend rate is set by the descending wave of the 4-hour time frame. The price rise that started at the end of October is forming a correction, which is close to completion. The price is in the area of a strong zone of a potential reversal of a large TF. There are no signals of a change of course yet.
Forecast:
Today, the current price rise is expected to slow down, up to a complete stop in the area of the resistance zone. By the end of the day, the probability of a reversal and the beginning of a price decline increases. The support zone shows the lower limit of the expected daily movement of the pair.
Potential reversal zones
Resistance:
- 126.40/126.70
Support:
- 125.70/125.40
Recommendations:
Purchases in the pair's market today are not very promising due to the limited expected scope of the rise. It is recommended to track the sell signals after the reversal signals appear.
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 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 instrument's movements in time!
