EUR/USD
Analysis:
The main vector of the movement of the European currency at the beginning of the year is set by the descending wave plane. Its structure is nearing completion. The price has reached the upper limit of the potential reversal zone of a large TF.
Forecast:
In the first half of the day today, you can expect a flat mood. Short-term growth in the area of the resistance zone is not excluded. At the end of the day, the probability of an increase in volatility, a reversal, and the beginning of a second decline increases. If the nearest zone breaks through, the price decline will continue until the next settlement milestone.
Potential reversal zones
Resistance:
- 1.1750/1.1780
Support:
- 1.1680/1.1650
- 1.1600/1.1570
Recommendations:
Sales are still relevant in the euro market. It is safer to reduce the lot in transactions. The optimal area for searching for a trading signal is the calculated resistance zone.
USD/JPY
Analysis:
A correction has been forming on the market of the major pair of the Japanese yen since the end of March. Its structure on the graph looks like a shifting plane. The unfinished section is ascending from August 16.
Forecast:
The bullish movement vector is expected to continue on the current day. In the first half of the day, a short-term decline to the support zone is not excluded. The active phase of growth is more likely at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 111.00/111.30
Support:
- 110.40/110.10
Recommendations:
Trading on the yen market today is possible only within the framework of individual trading sessions in a fractional lot. It is worth considering the limited potential of the price rise of the pair.
GBP/JPY
Analysis:
An upward wave has been developing on the chart of the English pound/Japanese yen pair since mid-July. The middle part (B) has recently been completed in its structure. The price rise that began on September 21 has a reversal potential. The price has been rolling down from the lower limit of the resistance zone in recent days.
Forecast:
A price correction is expected on the pair's chart in the coming days. The most likely is a flat character and a general lateral course of movement. In the upcoming session, you can expect a descending vector.
Potential reversal zones
Resistance:
- 151.60/151.90
Support:
- 150.80/1505.60
Recommendations:
The optimal tactic is to refrain from entering the pair's market until the current pullback is completed. Short-term sales with a reduced lot from the resistance zone are possible.
GOLD
Analysis:
A short-term trend change is being prepared in the gold market. The structure of the ascending wave of August 9 confirms this. The ascending section from September 16 has a reversal potential. The price pushed off from the upper limit of the strong support of a large TF.
Forecast:
In the next day, the framework of the price move will limit the nearest counter zones. At the European trading session, we can expect a short-term decline in the support area. At the end of the day, the probability of a reversal and a price rise increases.
Potential reversal zones
Resistance:
- 1770.0/1775.0
Support:
- 1740.0/1750.0
Recommendations:
Until clear buy signals appear in the area of the support zone, trading on the instrument market is not recommended.
Explanations: 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 instrument's movements in time!
