GBP/JPY
The downward wave of July 25 is at the end of the medium-term bearish trend. Since the beginning of August, a correction has been formed along the upper boundary of the support zone in the flat corridor. Its structure lacks the final section.
Forecast:
Today, the current bullish wave structure is likely to be completed. Mostly an upward trend in price fluctuations is expected. Preliminary short-term pressure on the support zone is not ruled out. The preliminary level of the end of the entire rise is within the resistance zone.
Recommendations:
Supporters of intraday trading style today can make purchases of the pair. It is safer to refrain from trading during the rise. At the end of the correction, it is recommended to monitor the instrument's sell signals.
Resistance zone:
- 129.20/129.50
Support zone:
- 128.40/128.10
AUD/USD
The downward section of July 19 is at the tip of the medium-term wave, which sets the main direction in the last year and a half. Since August 7, an upward movement began to develop towards, until it does not go beyond the correction of the last section of the trend. The high wave level indicates the continuation of the beginning of the upward structure and its transition to a larger scale.
Forecast:
In the coming sessions, the price of "Aussie" expects a rollback, most likely in the form of a flat. The lower boundary is a zone of support. By the end of the day, amid the emerging news block from the US, it is expected to increase volatility and further growth of the rate.
Recommendations:
Sales of the pair are quite risky today, they are possible only with an intra-session style with a minimum lot. In the area of the support zone, it is recommended to monitor the signals of buying the pair.
Resistance zone:
- 0.6840/0.6870
Support zone:
- 0.6780/0.6750
USD/CHF
The last unfinished wave structure on the franc chart is upward, from June 25. It formed the first 2 parts (A+B). The bullish wave that began on August 6 has no reversal potential, but may be the beginning of a larger bullish wave. The last part of the wave zigzag is formed in its structure.
Forecast:
Today, the most likely scenario will be a flat pair between the nearest opposite zones. The first half of the day is expected to decline. Towards the end of the runoff, the chance of a return to the upward movement vector increases, with the price rising to the resistance zone.
Recommendations:
Today, trade is justified only in the framework of intraday. It is recommended to make transactions according to the expected sequence. It is safer to refrain from trading and wait for the completion of the whole bullish wave.
Resistance zone:
- 0.9780/0.9810
Support zone:
- 0.9710/0.9680
Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show areas with the highest probability of reversal. The arrows indicate the wave marking according to the method used by the author, the solid background is the formed structure, the dotted ones are the expected movements.
Attention: The wave algorithm does not take into account the length of time the instrument moves.