GBP/USD
Brief Analysis:
A downward corrective wave has been developing on the GBP/USD chart since late January of this year. The wave is taking the form of a running flat and is approaching completion. The upward segment that began on October 14 has the potential to signal a reversal. Price is within an area where potential reversal zones of different degrees converge.
Weekly Forecast:
At the beginning of the upcoming week, GBP/USD is expected to move toward the boundaries of the support zone. A reversal and the beginning of an upward price move may be expected in the second half of the week. The resistance zone indicates the most likely level at which the pair's weekly movement will end.
Potential Reversal Zones
Resistance:
- 1.3470/1.3520
Support:
- 1.3300/1.3250
Recommendations
Buying: Buying opportunities may arise using smaller position sizes once appropriate reversal signals appear near the support zone.
Selling: Sell trades have limited potential and carry a high level of risk.
AUD/USD
Brief Analysis:
A downward wave structure has been developing on the AUD/USD chart since September. Over the past three weeks, a countertrend correction in the form of an expanded flat has been developing within this structure. This wave segment is in its final phase.
Weekly Forecast:
At the beginning of the upcoming week, the price is expected to continue moving toward the boundaries of the resistance zone. Price fluctuations may then transition into a sideways range. A reversal and the beginning of a decline are most likely closer to the weekend.
Potential Reversal Zones
Resistance:
- 0.7040/0.7090
Support:
- 0.6950/0.6900
Recommendations
Selling: Sell trades may be considered with smaller position sizes for intraday trading.
Buying: Buying opportunities may arise once reversal signals appear near the support zone on the trading systems being used.
USD/CHF
Brief Analysis:
The incomplete bullish wave on the USD/CHF chart began in April of this year. The wave is developing in the form of an expanded flat. At the time of analysis, the final segment of the wave structure is developing. Since early October, the price has been forming a corrective zigzag after reaching a strong resistance level.
Weekly Forecast:
Sideways movement with an upward bias is likely over the next couple of days. Subsequently, a sharp increase in volatility, a reversal, and the beginning of a downward move may be expected. The calculated support zone represents the lower boundary of the pair's expected weekly trading range.
Potential Reversal Zones
Resistance:
- 0.8300/0.8350
Support:
- 0.8130/0.8080
Recommendations
Buying: Buying opportunities may be considered over the next few days using smaller position sizes for intraday trading.
Selling: Sell trades will become relevant once appropriate signals appear near the reversal zone.
EUR/JPY
Brief Analysis:
The main direction of EUR/JPY since April of this year has been determined by a downward wave. Last week, the price approached the upper potential reversal zone on the daily timeframe. The middle segment (B) is developing within the wave structure and remains incomplete at the time of analysis.
Weekly Forecast:
Over the next few days, the price may continue moving downward toward the support zone. Closer to the weekend, volatility may increase, potentially leading to a reversal and a rise in the pair's exchange rate toward the resistance zone.
Potential Reversal Zones
Resistance:
- 177.70/178.20
Support:
- 174.80/174.30
Recommendations
Buying: Buying opportunities may arise once confirmed reversal signals appear near the reversal zone on the trading systems being used.
Selling: Sell trades have limited potential and may result in losses.
EUR/GBP
Brief Analysis:
A short-term downward wave has been developing on the EUR/GBP chart since mid-September. The incomplete wave structure moving in the opposite direction began in mid-August. It is taking the form of a highly extended running flat. The final segment of this structure remains incomplete.
Weekly Forecast:
Sideways movement and a brief retracement toward the resistance zone are likely over the next few days. Subsequently, the pair is likely to transition into a sideways range as a reversal develops. By the end of the week, the price may resume its decline toward the support zone.
Potential Reversal Zones
Resistance:
- 0.8420/0.8470
Support:
- 0.8300/0.8250
Recommendations
Buying: Buy trades have limited potential. Position sizes should be reduced as much as possible, and trades should be closed at the first signs of a reversal.
Selling: Sell trades will become relevant once appropriate signals appear near the resistance zone on the trading systems being used.
AUD/JPY
Brief Analysis:
A short-term bullish wave has been developing on the AUD/JPY chart since early August. As of the current analysis, the wave structure has reached the middle segment (B). Over the past week, the pair's quotes have drifted sideways within an area where potential reversal levels of different degrees converge.
Weekly Forecast:
Overall sideways movement is expected to continue into the upcoming week. Within the defined price range, a decline toward the lower boundary is more likely during the first few days. A reversal and an upward price move may be expected closer to the weekend.
Potential Reversal Zones
Resistance:
- 111.10/111.60
Support:
- 109.70/109.20
Recommendations
Selling: Sell trades may be considered with smaller position sizes for intraday trading. Potential gains are limited by the calculated zone.
Buying: Buying opportunities will become relevant once confirmed reversal signals appear near the reversal zone.
Explanation: In Simplified Wave Analysis (SWA), all waves consist of three parts (A-B-C). The latest incomplete wave is analyzed on each timeframe. Expected price movements are shown with dashed lines.
Important: The wave algorithm does not take into account the duration of an instrument's price movements.
