Analysis:
Since the end of January this year, the direction of price fluctuations in the euro has been determined by a bearish wave pattern. Since mid-April, the final segment (C) has been forming within the current wave structure. Following the breakout below a strong support level, the price needs to consolidate. The target level lies along the upper boundary of a major potential reversal zone.
Forecast:
The euro is expected to continue trading sideways over the next few days. The estimated resistance level is likely to trigger a pause and create conditions for a reversal. A downward move is expected to begin toward the end of the week.
Resistance:
1.1430/1.1480Support:
1.1230/1.1180Recommendations:
Buy: Positions may be considered with reduced position size during individual trading sessions, with upward potential limited to the resistance zone.
Sell: May be considered after your trading system generates confirmed reversal signals.
USD/JPY
Analysis:
Since April of last year, the price direction of this major currency pair has been driven by a dominant upward wave that remains incomplete. Since May, the final segment (C) of a smaller-degree wave has been developing. Since last week, the pair has been undergoing a sideways correction.
Forecast:
The pair is expected to continue trading sideways throughout the coming week. A brief decline toward the support zone cannot be ruled out during the first few days. In the second half of the week, the probability of a bullish reversal increases, with price expected to advance toward the estimated resistance level.
Resistance:
162.50/163.00Support:
161.30/160.80Recommendations:
Sell: High-risk trades that may result in losses.
Buy: May become the preferred trading direction in the coming days. A reduced position size is recommended.
GBP/JPY
Analysis:
Since February this year, the short-term price direction of the British pound/Japanese yen pair has been determined by an upward wave pattern. Over recent months, a sideways corrective flat has been developing within the wave structure. Structural analysis suggests that the correction remains incomplete.
Forecast:
The pair is expected to continue moving sideways with a bearish bias, potentially revisiting the estimated support zone. During the second half of the week, a reversal is expected. A temporary break below the lower boundary of the support zone cannot be ruled out. Market activity is likely to increase toward the end of the week.
Resistance:
215.50/216.00Support:
212.50/212.00Recommendations:
Sell: May be considered with reduced position size during intraday trading. Downward potential is limited to the estimated reversal zone.
Buy: Premature until confirmed reversal signals appear in the support level.
USD/CAD
Analysis:
The bullish wave that has been developing since May 1 has formed a counter-trend corrective flat over the past two weeks. After breaking above a strong resistance level, the pair has been trading mainly sideways. Analysis of the current wave structure indicates that the correction remains incomplete.
Forecast:
The pair is expected to continue trading sideways over the coming days. A decline toward the estimated support zone is possible, followed by a reversal and renewed upward movement from support. The resistance zone represents the upper boundary of the pair's expected weekly volatility range.
Resistance:
1.4350/1.4400Support:
1.4160/1.4110Recommendations:
Sell: Possible during intraday trading with reduced position size, targeting no lower than the estimated support zone.
Buy: Should only be considered after confirmed reversal signals emerge near support.
NZD/USD
Brief Analysis:
The New Zealand dollar major pair continues to move within the dominant bearish wave that has been in place throughout the past year. The wave extremes form a horizontal pennant pattern on the chart. At the time of analysis, the bearish segment that began on May 29 is nearing completion, with its final section currently forming.
Weekly Forecast:
The pair is expected to continue trading sideways with a bearish bias during the next couple of days. As price approaches the estimated support zone, sideways movement, increased volatility, and conditions for a reversal are expected to develop. An upward move becomes more likely during the second half of the week.
Resistance:
0.5740/0.5790Support:
0.5610/0.5560Recommendations:
Sell: Limited potential and relatively high risk.
Buy: May be considered after confirmed reversal signals appear within the support zone.
Gold
Analysis:
Since April, gold has been trading predominantly sideways. The developing ascending expanded flat is serving as a correction within the previous bullish trend. The current price level contains a cluster of potential reversal levels across multiple timeframes.
Forecast:
Pressure on the support zone may continue for the next several days. After that, a reversal and the beginning of an upward move are expected. Volatility is likely to increase toward the end of the week.
Resistance:
4200.0/4220.0Support:
4050.0/4030.0Recommendations:
Sell: Limited potential and may result in losses.
Buy: May be considered only after your trading system generates confirmed reversal signals near the support zone.
Bitcoin
Brief Analysis:
Since the beginning of May, Bitcoin's short-term price direction has been determined by a bearish wave. Following the breakout below a strong support zone, a counter-trend sideways correction developed over the past week and remains incomplete.
Weekly Forecast:
Bitcoin is expected to continue moving sideways during the coming week. During the first few days, brief pressure on the resistance zone is possible. Afterward, the bearish trend is expected to resume. The estimated support level lies along the upper boundary of a major daily potential reversal zone.
Resistance:
61050/62050Support:
56300/55300Recommendations:
Buy: Limited upward potential and relatively high risk.
Sell: May become the preferred trading direction once confirmed reversal signals appear. Downward potential is limited to the estimated support zone.
Ripple
Analysis:
The most significant structure on the Ripple chart is the current bullish wave that began in early February this year. Short-term price action is being driven by the bearish segment that started on May 14. The final segment (C) has been forming over recent months and remains incomplete.
Forecast:
Ripple is likely to continue moving lower over the coming days. Additional pressure on the support zone is possible, including a brief break below its lower boundary. Toward the end of the week, increasing volatility, a trend reversal, and the beginning of a bullish move become more likely.
Resistance:
1.0890/1.0940Support:
1.0170/1.0120Recommendations:
Sell: May be considered with reduced position size during individual trading sessions. Downward potential is limited to the support zone.
Buy: Long positions are not recommended until the current decline is complete. Buying opportunities will become relevant after confirmed reversal signals appear within the reversal zone.
Notes: In Simplified Wave Analysis (SWA), every wave consists of three segments (A-B-C). The analysis focuses on the most recent incomplete wave on each timeframe. The dotted lines indicate the expected price path.
Attention: The wave model does not account for the duration of price movements over time.