GBP/USD
Analysis:
An upward momentum set the trend direction of the British pound in the main pair since March last year. The unfinished segment counts down from May 3. In the previous three weeks, a correction is formed along the strong resistance zone in the form of a shifting plane. The structure of this wave is close to completion.
Forecast:
The pair's price movement is expected today in the corridor between the opposite zones. A downward movement vector is likely in the next session. By the end of the day, in the area of the support zone, you can expect a change in the exchange rate and the beginning of price growth.
Potential reversal zones
Resistance:
- 1.4200/1.4230
Support:
- 1.4100/1.4070
Recommendations:
Selling the British pound today is risky and can be unprofitable. It is recommended to refrain from entering the market for the duration of the pullback and look for signals to buy the pair at its end.
AUD/USD
Analysis:
The Australian dollar price has been in a horizontal drift along a strong resistance zone since the beginning of this year, correcting the previous trend. The chart segment from May 13 has a reversal potential and can be the beginning of a new wave at the main rate.
Forecast:
Today, in the first half of the day, the flat nature of price fluctuations is most likely, with a general downward vector. Closer to the end of the day, the probability of a reversal and the beginning of price growth increases.
Potential reversal zones
Resistance:
- 0.7790/0.7820
Support:
- 0.7720/0.7690
Recommendations:
The price decline of the Australian dollar has little potential. It is recommended to refrain from entering the pair's market until the pullback is completed and look for signals to buy the pair in the area of settlement support.
USD/CHF
Analysis:
Globally, the Swiss franc is strengthening against the US dollar. The short-term trend coincides with the global one and starts from April 1. The price has been forming a flat correction along the strong support zone in the last three weeks, which has not been completed yet.
Forecast:
Today, we can expect the pair's price to continue moving in a flat corridor between the opposite zones. In the first half of the day, an upward vector is likely. At the end of the day or tomorrow, you can expect the formation of a reversal and a repeated decline in the support area.
Potential reversal zones
Resistance:
- 0.9000/0.9030
Support:
- 0.8940/0.8910
Recommendations:
Today, franc trading is only possible in individual trading sessions with a reduced lot. Priority should be given to sales of the tool.
GOLD
Analysis:
The unfinished wave pattern on the gold chart is descending from August 6 last year. Since the end of February, the price has been correcting, having reached a strong potential reversal zone by now. The structure of the bullish wave looks complete. However, there are no signals of an imminent reversal on the chart.
Forecast:
Today, the general sideways course of movement is expected in the gold market. In the next session, a downward vector is more likely, up to the zone of calculated support. At the end of the day or tomorrow, there is a high chance of activation and a second attempt to raise the quotes.
Potential reversal zones
Resistance:
- 1915.0/1920.0
Support:
- 1880.0/1875.0
Recommendations:
Until there are clear reversal signals, gold sales are risky and can bring a loss to the deposit. It is recommended to refrain from trading for the duration of the pullback, tracking the signals for buying the instrument at its end.
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!
