GBP/USD
Analysis:
A downward correction wave is forming on the chart of the British pound sterling this year. The structure of the movement is close to its logical conclusion. There are no signals of an imminent reversal on the chart yet.
Forecast:
In the upcoming trading session, you can expect a "sideways" with an upward vector. The price is expected to rise no further than the calculated resistance. In the second half of the day, there is a high probability of a reversal and the beginning of the price move down.
Potential reversal zones
Resistance:
- 1.3770/1.3800
Support:
- 1.3670/1.3640
Recommendations:
On the next day, trading on the British pound market is only possible in separate sessions with a reduced lot. The pair's sales are more promising.
USD/JPY
Analysis:
The direction of the Japanese yen quotes in the main pair against the dollar is set by the upward momentum from January 6. The price is within the boundaries of a strong potential reversal zone. The hidden correction in the form of a shifting plane has recently been completed in the wave structure. The ascending section from April 8 has a reversal potential. The price has adjusted in the last two days.
Forecast:
Today, the flat mood of the pair's movement is expected to continue. After contact with the upper limit of the price range, a reversal and a repeated decline to the support area is likely.
Potential reversal zones
Resistance:
- 109.90/110.20
Support:
- 109.20/108.90
Recommendations:
Trading in the major yen market today can be risky. It is recommended to refrain from entering the market at the end of the rollback and look for buy signals at the end of it.
USD/CHF
Analysis:
Since the beginning of this year, the Swiss franc quotes have taken a course to weaken their positions against the US dollar. Since March 9, a complex correction has been forming on the chart. In the form of its structure, it most closely resembles a stretched plane.
Forecast:
Today, a sideways flat along the support zone is likely in the European trading session. At the end of the day, you can expect an activation and the beginning of price growth, no further than the calculated resistance.
Potential reversal zones
Resistance:
- 0.9280/0.9310
Support:
- 0.9220/0.9190
Recommendations:
Franc sales today can be unprofitable and are not recommended. The main attention should be paid to the search for signals to buy the pair.
EUR/JPY
Analysis:
The direction of the trend of the euro pair against the yen since the middle of last year is directed to the "north" of the price chart. The unfinished section on the trend counts down from March 24. The final part (C) has been developing in the wave structure since April 8.
Forecast:
In the next trading sessions, movement in the price corridor between the nearest counter zones is expected. In the first half of the day, you can expect a decline in the calculated support. By the end of the day or tomorrow, the activation and re-attempt of pressure on the resistance zone are likely.
Potential reversal zones
Resistance:
- 130.50/130.80
Support:
- 129.90/129.60
Recommendations:
Today, trade transactions are possible within the intraday framework. When selling, you should reduce the lot as much as possible and close deals at the first sign of a reversal. It is recommended to track the reversal signals for buying the pair in the area of the support zone.
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!
