EUR/USD
Analysis:
In the dominant bullish wave in the market of the pan-European currency, a correction has been forming since the beginning of this year. The structure of the descending wave shows a clear zigzag A-B-C. The preliminary analysis indicates that the area of the 117th price figure is the likely completion zone.
Forecast:
The most realistic scenario of the movement today will be the movement of the price between the nearest oncoming zones. In the first half of the day, the price is more likely to rise. By the end of the day, you can expect the completion of the growth - a reversal and the resumption of the downward course.
Potential reversal zones
Resistance:
- 1.1930/1.1960
Support:
- 1.1850/1.1820
Recommendations:
Today, in the euro market, purchases are possible only in the nearest sessions with a fractional lot. When the price reaches the resistance zone and the formation of reversal signals, it is recommended to change the trading vector.
AUD/USD
Analysis:
The Australian dollar market is dominated by an upward trend. The structure of the movement has a pronounced impulse character. The price has reached the lower limit of the strong reversal zone. Since February 25, a counter-movement is formed, which can become both a correction and the beginning of a new bearish one.
Forecast:
During the current day, the overall sideways course of the pair is expected. The boundaries of the expected travel corridor indicate the calculated zones of the oncoming direction. In the next session, after an attempt to put pressure on the support, a reversal and a price rise are likely.
Potential reversal zones
Resistance:
- 0.7730/0.7760
Support:
- 0.7650/0.7620
Recommendations:
Trading on the Australian dollar market today can be risky. Transactions are possible within the framework of individual sessions with a reduced lot, according to the expected sequence.
GBP/JPY
Analysis:
After an upward surge of 25 price figures, the quotes of the pound/yen cross reached the boundaries of a strong reversal zone. In the structure of the wave, there is an incompleteness, so the pair's exchange rate is not expected to change in the coming days.
Forecast:
Today, the most likely "sideways" between the nearest oncoming zones. After an attempt to put pressure on the support zone, you can expect a reversal and a second attempt at price growth.
Potential reversal zones
Resistance:
- 151.20/151.50
Support:
- 150.30/150.00
Recommendations:
Trading on the pair's market today is possible only in small lots within separate sessions. Trades should be completed at the first signals of a reversal.
GOLD
Analysis:
Since August last year, gold prices have been moving down. The wave has a corrective character, with a large number of flat sections. Another hidden correction has been developing since the end of February. Its structure is nearing completion.
Forecast:
Today, in the first half of the day, a predominantly upward course of price movement is expected. By the end of the day, there is a high probability of a reversal and subsequent decline to the current value.
Potential reversal zones
Resistance:
- 1740.0/1745.0
Support:
- 1705.0/1700.0
Recommendations:
Buying gold is quite risky and can only be used intraday, a fractional lot. The main focus should be on finding sell signals at the end of the current upswing.
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!
