Overview of AUD / USD with the current day forecast
On the chart of the major Australian dollar pair, the vector of the main direction is set by an upward wave. By the end of the summer, the price had reached the lower limit of the settlement completion zone. The decline that began on September 8 forms a fairly high wave level. After correcting the corrective phase, with high probability, the development of a downward wave of a larger scale will follow.
At the end of the ascending rollback from October 6, the formation of the middle part (B) of the current descending zigzag and a counter wave of small scale develops. After its completion, the chance of a change in the exchange rate of the inter-trend will increase significantly.
Today, you can count on the completion of the preparation for the reversal. In the first half of the day, an upward price movement is likely, with a common flute character. The completion of the recovery is expected within the resistance zone. A change in the motion vector can be expected by the end of the day.
The boundaries of the resistance zones:
- 0.7870 / 0.7900
The boundaries of the support zones:
- 0.7810 / 0.7780
Overview of GBP / JPY with the current day forecast
During the last month, the direction of the short-term movements of the cross British pound / Japanese yen is set by the downward wave. After working out the first part of the wave (A), the middle part of the movement (B) approaches the end of the flight. The preliminary calculation indicates a high probability of a move up in the coming days, at least on the price figure.
The last active wave structure is the bull zigzag, which started on October 12. Yesterday, the final part of the model actively developed. The quotations of the pair are approaching the intermediate zone of the potential reversal, from which the pullback is likely.
The upcoming price movement is expected on the nearest trading session. Within the resistance zone, a stop is likely. Further, a downward rollback is not excluded, with the prospect of reducing to a support level.
The boundaries of the zones of resistance:
- 149.70 / 150.00
The boundaries of the support zones:
- 149.10 / 148.80
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.