GBP/USD
Analysis:
On March 20 last year, a new wave of the upward trend of the British pound sterling started. The last section, unfinished for today, counts down from December 21. The quotes reached the lower limit of the strong potential reversal zone, along which the price formed an intermediate correction in the flat price corridor for the entire past month.
Forecast:
Today, the price movement is expected to continue mainly in the lateral plane. In the European session, short-term growth of the exchange rate is likely, no further than the resistance zone. Then you should wait for a reversal and a decline to the lower border of the price channel.
Potential reversal zones
Resistance:
- 1.3710/1.3740
Support:
- 1.3610/1.3580
Recommendations:
Trading in the British pound market today can be risky. It is recommended not to go beyond individual trading sessions and use a reduced lot in transactions. Sales of the instrument are more promising.
USD/JPY
Analysis:
Since March last year, the direction of movement of the major Japanese yen sets a bearish trend. In the structure of the wave, there is a need for an intermediate correction. Since the beginning of this year, the price has been moving up.
Forecast:
In the next trading sessions, the upward trend of the movement is expected to end. By the end of the day, the probability of a reversal and the beginning of a decline increases. The boundaries of the expected daily course of the pair show the calculated zones.
Potential reversal zones
Resistance:
- 105.20/105.50
Support:
- 104.50/104.20
Recommendations:
Before the appearance of clear reversal signals, priority should be given to the pair's purchases. It is worth considering the limited potential of the current price growth.
USD/CHF
Analysis:
The trend direction of the Swiss franc is directed to the "south" of the price chart. The dominant trend shifted the pair's quotes to the upper border of the strong reversal zone. Since January 6, the price is adjusted up, forming a clear zigzag.
Forecast:
During the next trading sessions, the main upward movement vector is expected. In the first half of the day, a short-term decline in the support area is not excluded. The growth phase is more likely in the second half of the day.
Potential reversal zones
Resistance:
- 0.9010/0.9040
Support:
- 0.8940/0.8910
Recommendations:
Sales in the Swiss franc market can be risky and are not recommended. The main attention should be paid to the search for buy signals.
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 one shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!
