EUR/USD
Analysis:
In the short term, the direction of the euro's price movement in the major pair has been shaped by an upward wave since February. Over the past six months, the pair has been forming a corrective section of the (B) wave pattern, which remains unfinished. The wave has the form of a contracting flat. The quotes are moving along the boundaries of a potentially reversal zone on the larger timeframe.
Forecast:
At the beginning of the upcoming week, the European currency is expected to continue its sideways movement. Near the support zone, price fluctuations may transition into a horizontal formation. A reversal and the start of an upward price trend are more likely in the second half of the week. Important economic news could serve as a timing guide.
Potential Reversal Zones
Resistance:
- 1.1690 / 1.1740
Support:
- 1.1550 / 1.1500
Recommendations:
- Buying: Preferable after reversal signals appear near the support area.
- Selling: No conditions for such trades.
USD/JPY
Analysis:
On the chart of the Japanese yen major pair, the short-term trend is dominated by an upward movement. Its unfinished final segment has been developing since October 1. Prices have entered the boundaries of a potential reversal zone on the weekly timeframe, nearing its upper edge. The downward segment from November 20 carries reversal potential.
Forecast:
In the coming week, price movement downward is expected, possibly reaching the calculated support zone. After that, a sideways trend is likely. The probability of a trend reversal and a renewed rise in the pair increases afterward. The calculated resistance area shows the potential upper boundary of the weekly price movement.
Potential Reversal Zones
Resistance:
- 158.00 / 158.50
Support:
- 155.40 / 154.90
Recommendations:
- Buying: Possible after confirmed reversal signals appear near the support area.
- Selling: Risky with low potential.
Bitcoin
Brief analysis:
On the weekly Bitcoin chart, the trend direction over recent years has been shaped by an upward wave zigzag. Since November of last year, prices have been undergoing a correction, forming an extended flat. The final section (C) is currently developing. The upper boundary of the monthly timeframe's potential reversal zone lies at the 75K level.
Forecast:
In the coming days, the upward vector of Bitcoin's price movement is highly likely to continue. Temporary pressure on the upper resistance boundary cannot be ruled out. After that, a reversal and renewed decline are expected. The support zone marks the upper boundary of the anticipated target area.
Potential Reversal Zones
Resistance:
- 93,700.0 / 95,700.0
Support:
- 75,000.0 / 73,000.0
Recommendations:
- Buying: Highly risky and may lead to losses.
- Selling: May be used once appropriate signals appear near the resistance zone.
Ethereum
Brief analysis:
On the weekly Ethereum chart, a downward wave structure has been forming since mid-August of this year. The wave lacks its final section. Within the last part (C), an intermediate upward pullback is developing.
Forecast:
Over the coming week, Ethereum is expected to continue its overall sideways movement, mostly with an upward bias. A reversal is expected near the resistance zone. Increased volatility and an active phase of downward movement are likely beginning in December. The final target of the current upward movement is the calculated support zone.
Potential Reversal Zones
Resistance:
- 3,150.00 / 3,200.00
Support:
- 2,500.00 / 2,450.00
Recommendations:
- Buying: Possible with a reduced volume and with potential movement toward the resistance zone.
- Selling: Premature until confirmed reversal signals appear near resistance.
Litecoin
The latest unfinished Litecoin wave structure has a downward vector. In the larger weekly wave, this segment is at the end of a corrective flat. The price corridor created by the quotes has formed a "flag" price pattern. The wave structure shows no signs of completion.
Weekly Forecast:
Over the next few days, Litecoin is highly likely to continue moving downward until it reaches the support zone. Afterward, a sideways phase is possible, creating conditions for a reversal and a rise toward the resistance zone. The support zone lies at the lower border of the strong potential reversal area.
Potential Reversal Zones
Resistance:
- 93.00 / 94.00
Support:
- 78.00 / 77.050
Recommendations:
- Buying: Will become relevant once confirmed reversal signals appear.
- Selling: No conditions until the current wave completes.
Ripple
Brief analysis:
On the weekly Ripple chart, the downward wave that began in November of last year is nearing completion. In the larger wave model, this is a correction. From the upper boundary of a strong reversal zone, an upward corrective wave began a week ago.
Weekly Forecast:
In the coming days, Ripple's price is expected to move mostly sideways. A price pullback toward the support zone is possible. After that, a reversal and a renewed upward movement are likely. Increased activity is more probable toward the end of the week.
Potential Reversal Zones
Resistance:
- 2.4200 / 2.4700
Support:
- 1.9700 / 1.9200
Recommendations:
- Selling: May be used in individual sessions with a reduced volume.
- Buying: No conditions until confirmed reversal signals appear near the support zone.
Notes: In Simplified Wave Analysis (SWA), all waves consist of 3 parts (A-B-C). On each timeframe, the last unfinished wave is analyzed. Dashed lines show expected movements.
Warning: The wave algorithm does not account for the duration of price movements over time!
