GBP/USD
Brief analysis:
Quotes of the British pound in the main pair continue the uptrend that started early this year. The unfinished corrective wave section (B) has been moving the price sideways for the past two months. Previously broken resistance has turned into support, along which quotes have formed a price channel.
Weekly forecast:
At the beginning of the upcoming week, sideways movement of the pound is expected, with a bearish vector toward calculated support. After that, the price may transition into a sideways range, followed by a reversal and renewed growth. The resistance zone shows the maximum expected range of growth.
Potential reversal zones
Resistance:
- 1.3680/1.3730
Support:
- 1.3430/1.3380
Recommendations
Selling: limited potential due to nearby support, acceptable in reduced volumes within individual sessions.Buying: premature until confirmed reversal signals appear near support.
AUD/USD
Brief analysis:
The direction of the Australian dollar's major pair since April has been set by an upward wave. The current upward section started on August 21. Price is approaching the lower boundary of a strong potential reversal zone on the daily timeframe.
Weekly forecast:
At the start of the week, sideways movement is likely. The pair may decline to the support zone. Toward the weekend, a reversal and resumption of upward movement can be expected.
Potential reversal zones
Resistance:
- 0.6720/0.6770
Support:
- 0.6610/0.6560
Recommendations
Buying: no market conditions until reversal signals appear.Selling: possible in fractional volumes in scalping style within separate sessions.
USD/CHF
Brief analysis:
The short-term trend of the Swiss franc pair since April has been set by an upward wave. The structure is forming as a descending flat. The final part (C) is not yet complete. In recent weeks, price has corrected along the upper boundary of a strong potential reversal zone.
Weekly forecast:
At the beginning of the week, further downside movement is expected, toward support. Later, the probability of reversal and renewed growth increases. Resistance marks the upper boundary of the weekly range.
Potential reversal zones
Resistance:
- 0.8180/0.8230
Support:
- 0.7930/0.7880
Recommendations
Selling: low potential, may lead to losses.Buying: possible after confirmed reversal signals near support.
EUR/JPY
Brief analysis:
The euro-yen pair has been forming an upward wave structure since early August. The structure is shaping a corrective pullback within the final part (C). Last week, quotes moved along support.
Weekly forecast:
At the beginning of the week, sideways movement is likely, with possible moves toward support. In the second half, a reversal and upward movement are probable. A temporary breakout below support cannot be excluded.
Potential reversal zones
Resistance:
- 175.00/175.50
Support:
- 171.00/170.50
Recommendations
Selling: low potential, risky.Buying: may become the main strategy after confirmed reversal signals near support.
US Dollar Index
Brief analysis:
The short-term trend of the dollar index has been downward since early August. In recent months, a correction has been forming sideways along previously broken support, now resistance. The next stage will be the final part (C).
Weekly forecast:
At the start of the week, sideways movement is possible. A rise to resistance cannot be excluded. In the second half, volatility is expected to increase with renewed downside movement. Support marks the upper boundary of the current wave's target zone.
Potential reversal zones
Resistance:
- 98.00/98.20
Support:
- 96.90/96.70
Recommendations
Buying the dollar is premature. Strengthening of national currencies and dollar weakness should be prioritized in trading this week.
Bitcoin
Brief analysis:
After weakening in early September, Bitcoin entered a growth phase. The bullish wave has gained over 10 figures in the past two weeks. Price is nearing the lower boundary of the potential reversal zone. An intermediate pullback is needed before continuation.
Weekly forecast:
At the beginning of the week, sideways movement is likely, with possible declines to support. Toward the weekend, volatility may increase and upward movement resumes. A breakout above resistance within the week is unlikely.
Potential reversal zones
Resistance:
- 119000.0/120000.0
Support:
- 114000.0/113000.0
Recommendations
Selling: high risk, low potential, may lead to losses.Buying: possible after confirmed reversal signals near support.
Gold
Brief analysis:
Gold continues to move upward in line with the global trend. The main wave structure is nearing completion. Quotes have reached the boundaries of the daily reversal zone. No signs of reversal are present.
Weekly forecast:
In the coming days, movement toward resistance is likely. Then sideways consolidation may follow, creating conditions for a reversal. A temporary breakout above resistance cannot be ruled out.
Potential reversal zones
Resistance:
- 3660.0/3680.0
Support:
- 3580.0/3560.0
Recommendations
Buying: low potential, may be unprofitable.Selling: may become attractive after confirmed reversal signals near resistance.
Explanations: In simplified wave analysis (SWA), all waves consist of three parts (A-B-C). Each timeframe is analyzed by its last unfinished wave. Expected movements are shown with dashed lines.
Note: The wave algorithm does not account for the duration of movements over time.
