EUR/USD
Analysis:
The main direction of the European currency's price movements since the beginning of the year is set by a bearish wave algorithm. This month, quotations reached a strong support zone. Since this time, the price has been forming an intermediate correction, in the form of a horizontal plane.
Outlook:
In the next 24 hours, the general flat movement mood is expected to continue, but mainly with an upward vector. Change of direction is more probable in the second half of the day. A short-term piercing of the lower support boundary is possible.
Potential reversal zones
Resistance:
- 1.1350/1.1380
Support:
- 1.1270/1.1240
Recommendations:
In flat conditions, it is optimal to refrain from trades. For the most active in the euro market, short-term buying from the support zone is possible today.
USD/JPY
Analysis:
On the USD/JPY chart, the main direction of movement is set by the downward wave from October 15. The rising section from November 30 does not go beyond this wave. At the time of the analysis, the price reached the intermediate resistance zone.
Outlook:
In the next 24 hours, the most probable movement of the price is mainly sideways. In the first half of the day, we can expect an attempt to put pressure on the resistance zone. At the end of the day, a change of course and a downward vector is possible.
Potential reversal zones
Resistance:
- 114.30/114.60
Support:
- 113.50/113.20
Recommendations:
There are no conditions for buying on the yen market today. After the appearance of unambiguous signals, short-term sales from the resistance zone with fractional lots are possible.
GBP/JPY
Analysis:
A downward wave has been forming on the chart of the GBP/JPY pair since October 20. In the last three weeks, the price has moved into a correction phase. Most of all, the forming correction reminds a shifting plane. In its structure, the final section is not completed.
Outlook:
Today we can expect a general upward movement. After the achievement of resistance levels, growth slowdown, reversal, and the beginning of price decrease are probable.
Potential reversal zones
Resistance:
- 152.30/152.60
Support:
- 151.30/151.00
Recommendations:
Short-term buying of the cross in small lots is possible in the next sessions. Selling will be possible after the appearance of clear signals of a reversal in the resistance area.
GOLD
Analysis:
For almost the entire year, gold quotations have been moving sideways. A shifting upward plane is forming on the chart. The downtrend from November 16 is incomplete as of today. The price has been forming an intermediate correction for the past month.
Outlook:
Price is expected to move between the closest encounter zones in the next 24 hours. After a probable pressure on the support zone, we can expect a change of course and a return to the upward movement vector, up to the calculated resistance.
Potential reversal zones
Resistance:
- 1815.0/1820.0
Support:
- 1785.0/1780.0
Recommendations:
It is recommended to monitor emerging signals around the support zone to buy the instrument. It is worth considering the short-term nature of the upcoming rally.
Explanation: In simplified wave analysis (SVA), waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid arrow background shows the structure formed. The dotted arrow shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the instrument movements over time!
