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FX.co ★ Simplified wave analysis and forecast for EUR/USD, AUD/USD, USD/CHF, GBP/JPY on July 22

Simplified wave analysis and forecast for EUR/USD, AUD/USD, USD/CHF, GBP/JPY on July 22

EUR/USD

Analysis:

A horizontal shifting plane has been developing on the chart of the European currency since July 31. Its structure currently looks complete. Since June 18, a potentially incorrect-looking reversal structure has been forming upwards. It may be the beginning of a new upward wave.

Forecast:

Today, the movement of the current lateral vector in recent days is expected to continue. In the process of a flat, conditions are created for a short-term trend reversal. The probability of a price puncture down to the next support zone before the start of the exchange rate growth remains.

Potential reversal zones

Resistance:

- 1.1840/1.1870

Support:

- 1.1770/1.1740

- 1.1690/1.1660

Recommendations:

Selling transactions on the euro market is risky due to the limited potential for the price to move down. Purchases will become possible after the formation of unambiguous reversal signals.

Simplified wave analysis and forecast for EUR/USD, AUD/USD, USD/CHF, GBP/JPY on July 22

AUD/USD

Analysis:

Since February 25, the incomplete wave structure on the Australian dollar chart is bearish. The price has reached the upper limit of the potential reversal zone of a large TF. The wave structure looks formed. There are no signals of an imminent change of course on the chart yet.

Forecast:

On the current day, there is a high probability of a flat mood of price movement. At the European session, we can expect an attempt to put pressure on the support zone. A short-term puncture of its lower border is not excluded. Then you can count on a change of the vector and a price rise in the area of the resistance zone.

Potential reversal zones

Resistance:

- 0.7400/0.7430

Support:

- 0.7330/0.7300

Recommendations:

Trading on the pair's market today is possible only within the framework of individual trading sessions with a fractional lot. Before the appearance of reversal signals, sales are a priority.

See also: Start Forex trading with a deposit starting from 1 USD.
Simplified wave analysis and forecast for EUR/USD, AUD/USD, USD/CHF, GBP/JPY on July 22

USD/CHF

Analysis:

A downward wave model has been forming on the chart of the main Swiss franc pair since June 18. In the last two months, the middle part (B) has been developing in the structure of which the final ascending section is missing.

Forecast:

Today, the pair's exchange rate is likely to move between the nearest counter zones. After an attempt to put pressure on the support zone, a reversal and price growth to the resistance zone are expected in the upcoming session.

Potential reversal zones

Resistance:

- 0.9230/0.9260

Support:

- 0.9160/0.9130

Recommendations:

Today, trading transactions on the franc market are possible only within the intraday with a reduced lot. Purchases to the area of the resistance zone are more promising.

Simplified wave analysis and forecast for EUR/USD, AUD/USD, USD/CHF, GBP/JPY on July 22

GBP/JPY

Analysis:

The intraday fluctuations of the pound/yen pair were set until recently by the algorithm of the descending stretched plane from February 20. After repeated downward elongation, the wave structure was fully formed. The price growth that began on July 19 has a reversal potential.

Forecast:

In the coming days, a mainly lateral vector of movement is expected: the completion of the price growth of the pair, a reversal, and a downward movement of the price. The support zone shows the lower limit of the expected daily course of the pair.

Potential reversal zones

Resistance:

- 151.70/152.00

Support:

- 150.60/150.30

Recommendations:

Today, trading activity on the pair's market is undesirable and can lead to losses. It is optimal to refrain from transactions until clear buy signals appear in the area of the support zone.

Simplified wave analysis and forecast for EUR/USD, AUD/USD, USD/CHF, GBP/JPY on July 22

Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure, and the dotted one shows the expected movements.

Attention: The wave algorithm does not consider the duration of the instrument's movements in time!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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