EUR/USD
Analysis:
A short-term analysis of the euro chart since April of this year shows a dominant upward trend. In the wave structure, a corrective phase has been developing over the past few months and is still ongoing. Prices are approaching the lower boundary of the price corridor. Before continuing to rise, the instrument needs to gain an additional wave level to complete the correction.
Forecast:
The euro is expected to be more volatile in the coming week. By mid-week, a reversal and upward movement are anticipated from the support zone. The calculated support indicates the most likely area for the correction to end.
Potential Reversal Zones:
- Resistance: 1.0940/1.0990
- Support: 1.0780/1.0730
Recommendations:
- Sales: Conditions for such trades will not be present in the coming week.
- Purchases: Possible in fractional lots during individual sessions after confirmed reversal signals appear on the chart.
USD/JPY
Analysis:
Since December of last year, an upward wave has set the dominant direction of the Japanese yen's main pair. Since the end of April, a counter-correction has been developing in the wave structure. The analysis shows this correction still needs to be completed. In recent weeks, prices have been moving within the formed price corridor, creating a "horizontal pennant" pattern.
Forecast:
At the beginning of the coming week, the current sideways movement is likely to continue, with a gradual decline in prices towards the support area. Closer to the weekend, increased volatility, a reversal, and a resumption of price growth can be expected. The calculated resistance may slow the rise within the weekly range.
Potential Reversal Zones:
- Resistance: 159.40/159.90
- Support: 155.50/155.00
Recommendations:
- Sales: High risk, may lead to deposit losses.
- Purchases: These are relevant for trading after corresponding signals appear in the support area.
GBP/JPY
Analysis:
The pound/yen pair continues its upward movement. The wave structure is developing a counter-correction, forming a "shifting plane" pattern on the chart. The price moves along the lower boundary of the weekly support zone. Wave analysis logic indicates the need to form a correction.
Forecast:
After probable pressure on the resistance zone at the beginning of the week, a directional change of the cross is expected, with a gradual decline to the calculated support boundaries. The highest volatility is likely closer to the weekend.
Potential Reversal Zones:
- Resistance: 202.80/203.30
- Support: 199.20/198.70
Recommendations:
- Purchases: Premature until confirmed reversal signals appear in the resistance zone.
- Sales: Lack potential and may need to be more profitable.
USD/CAD
Analysis:
The daily chart analysis of the Canadian dollar major shows the formation of a "horizontal pennant" pattern since April of this year. As of the analysis, the wave structure needs to be completed. No signs of an imminent reversal are observed on the chart. Prices are approaching the upper boundary of the intermediate support zone of the larger time frame.
Forecast:
In the coming days, an attempt to pressure the resistance zone can be expected. Subsequently, a price reversal and resumption of the downward movement are anticipated. The pair's decline is expected to reach the intermediate support zone boundaries of the daily time frame.
Potential Reversal Zones:
- Resistance: 1.3790/1.3840
- Support: 1.3600/1.3550
Recommendations:
- Purchases: Conditions for trades will not be present in the coming week.
- Sales: Possible for trading after corresponding signals appear on the chart using your trading systems.
NZD/USD
Brief Analysis:
The downward price movement of the New Zealand dollar since December of last year continues to form the main price direction. The upward segment of the last two months remains within the corrective phase. Within this phase, since mid-May, the price forms an intermediate correction as a shifting plane.
Weekly Forecast:
At the beginning of the coming week, the downward vector is expected to end, and price fluctuations will transition into a sideways pattern within the calculated support zone. After reversal conditions form, a directional change can be expected, with price growth reaching the calculated resistance boundaries.
Potential Reversal Zones:
- Resistance: 0.6240/0.6290
- Support: 0.6090/0.6040
Recommendations:
- Sales: Risky and may become unprofitable.
- Purchases: These are usable for trading after corresponding reversal signals appear in the support zone.
Gold
Analysis:
A bullish trend has set the price direction of gold since October of last year. Since the end of April, gold prices have been moving sideways within the strong resistance of the weekly time frame. The wave structure appears complete, but no confirmed reversal signals are observed on the chart. The price is near the lower boundary of the formed corridor.
Forecast:
The current sideways trend of gold prices may continue into the coming week. There is a high probability of pressure on the calculated support. A brief breach of the upper boundary is not excluded. By the end of the week, the likelihood of a reversal and a resumption of price growth increases.
Potential Reversal Zones:
- Resistance: 2385.0/2400.0
- Support: 2290.0/2275.0
Recommendations:
- Sales: Conditions for trades will be absent in the coming week.
- Purchases: These are usable for trading only after the corresponding confirmed reversal signals appear.
Notes:
In simplified wave analysis (SWA), all waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed on each time frame. Dotted lines show expected movements.
Attention: The wave algorithm does not account for the duration of instrument movements in time!
