Overview of EUR / USD with a forecast for the current day
The dominant wave of the instrument since December last year led the pair to a wide range of potential reversals. The wave structure demonstrates completeness, the minimum lifting targets are achieved. Formally, from these levels, the 3-year wave design "stretched plane" can be completed. However, the generated signals for changing the direction of motion are not observed until now. Therefore, the option of continuing the current wave and further extending it upwards remains a priority.
At the beginning of last month, a downward pullback on many grounds is close to completion. At a minimum, the price further waits for a counter-rollback.
Started at the end of last week, the price rise has high chances to continue. At the beginning of the upcoming session, the flat mood cannot be ruled out. The range of diurnal growth is limited by the calculated zone of resistance.
The boundaries of the resistance zones:
- 1.1780 / 1.1810
The boundaries of the support zones:
- 1.1730 / 1.1700
Overview of USD / JPY with the current day forecast
As part of the downward correction in the chart of the Japanese currency, in the short term, the direction of the price movement sets its last segment. This is a bullish wave, launched on September 8, by now it has reached the calculated zone of elongation upwards. The quotations of the pair are near the lower boundary of the control, potentially reversal zone. Over the past weeks, the price is moving in a flat corridor, forming a corrective phase of the wave. On the last trading day, the final stage began.
Today, in the first half of the day, a short-term upward pullback, not beyond the limits of resistance, is not ruled out.
Toward the end of the day, a return to the downward course is expected, with the price moving to the settlement support zone.
The boundaries of the resistance zones:
- 112.70 / 113.00
The boundaries of the support zones:
- 111.90 / 60
Explanations to the figures: For simplified wave analysis, a simple waveform is used that combines 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. On each considered time frame the last, incomplete wave is analyzed.
The areas 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.
Attention: 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.