Overview of the currency pair EUR / USD with the current day forecast
On the daily chart for the main pair of Euro currency, a bull wave is nearing completion, which lasts more than 2 years. The wave formed a stretched plane on the graph. The quotations of the pair reached the lower limit of the wide potential reversal zone. The probability of the end of the entire current model at these levels increases significantly. In the framework of this settlement area, preliminary goals of probable completion are found.
The short-term trend in the pair is set by a bullish wave of December 21 last year. Over the past month, within the framework of the main wave, a hidden correction has been worked out, in which the final part is lacking for today.
Today is expected to be a common flute-driven traffic. In the morning, a change in the current exchange rate is expected. Closer by the end of the day, the probability of a price reduction will sharply increase.
Boundaries of the resistance zone:
-1.1750 / 80
Boundaries of the support zone:
-1.1680 / 50
Overview of the currency pair GBP / JPY with the current day forecast
Formed from the summer of the year, an upward correction on the chart of the cross pound sterling/yen is approaching the final phase. Price extremes formed a distinct ascending pennant. The external boundaries of the converging figure cause the quotes of the pair to reduce the range of its volatility. A wave analysis of the last unfinished structure from the middle of April shows the beginning of a bull zigzag. With a high degree of probability, it can be argued that after the last months of correction, the price breaks the upper boundary of the channel.
In the coming days, the correction decline will continue.
The short-term price rise is not excluded from the nearest trading session. During the day, the exchange rate is expected to change and the price of the pair is down. The daily range of travel limits the support area.
Boundaries of the resistance zone:
- 145.50 / 80
Boundaries of the support zone:
- 144.60 / 30
Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C). Of such waves, all kinds of correction are composed and most of the impulses. On each considered time-frame the last, incomplete wave is analyzed.
The zones marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.
Note: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a trade transaction, you need to confirm the signals of your trading systems.