GBP/USD
Analysis:
The upward trend in GBP/USD continues. The wave as of September 29th allows us to analyze the trend on the daily chart. The wave develops impulsively. Since the beginning of the previous week, the quote has been moving sideways.
Forecast:
Today, the sideways movement is expected to end. In the support zone, a reversal is likely to occur and the upward trend to resume.
Potential reversal zones
Resistance:
- 1.3850/1.3880
Support:
- 1.3750/1.3720
Recommendations:
Until the end of the current pullback, it would be unwise to enter the market. Track buy signals in the support zone.
AUD/USD
Analysis:
For the past six months, an ascending extended plane has been forming on the chart. The wave is in its final phase. In recent days, an intermediate pullback occurred.
Forecast:
During the upcoming sessions, the descending wave is expected to complete and the trend to reverse. A strong upward trend is likely to start at the beginning of the next week.
Potential reversal zones
Resistance:
- 0.7540/0.7570
Support:
- 0.7460/0.7430
Recommendations:
Today, there are no conditions in the market for selling the pair. Track buy signals near the calculated support zone.
USD/CHF
Analysis:
On the chart, there is an incomplete descending wave structure. It looks like a stretched plane. Its last section started to form on September 30th. The price is approaching the upper boundary of a strong support zone on a larger time frame.
Forecast:
In the first half of the day, the downward trend is expected to continue, up to its completion in the support zone. At the end of the day or at the beginning of the next trading week, the trend may reverse and the price will go up.
Potential reversal zones
Resistance:
- 0.9220/0.9250
Support:
- 0.9150/0.9120
Recommendations:
Today, trading in USD/CHF is possible only within the framework of separate trading sessions and with a smaller lot.
USD/CAD
Analysis:
The bearish trend that has dominated the market over the past two years continues. On July 19, the incomplete section of the wave started forming. Over the past 10 days, the price has been moving sideways.
Forecast:
Today, the sideways movement is expected to continue. The trend is likely to reverse and the price to go down in the second half of the day.
Potential reversal zones
Resistance:
- 1.2360/1.2390
Support:
- 1.2280/1.2250
Recommendations:
Today, there are no conditions in the market for selling the instrument. Track buy signals near the resistance zone.
Explanations: In simple wave analysis, the wave pattern consists of 3 waves (A-B-C). The last incomplete wave is analyzed. The solid arrows show the formed structure, the dashed arrows indicate expected movements.
Attention: The wave algorithm does not consider the duration of the instrument's movements in time!
