FX.co ★ Simplified wave analysis and forecast for EUR/USD, USD/JPY, GBP/JPY, GOLD on October 25

EUR/USD

Analysis:

Since the beginning of this year, the trend of the major euro pair has been set by a descending wave. The ascending section from September 30 does not go beyond the correction yet. The price has reached the lower limit of a strong resistance zone.

Forecast:

The general upward movement vector is expected to continue in the coming sessions. The calculated resistance zone shows the boundary of the daily course. In the first half of the day, some depreciation is possible, no further than the support zone.

Potential reversal zones

Resistance:

- 1.1680/1.1710

Support:

- 1.1620/1.1590

Recommendations:

Trading on the euro market is quite risky today. It is recommended to refrain from entering the market until the end of the current pullback down. The settlement support area is the most promising for buying the pair.

USD/JPY

Analysis:

As a result of the upward trend, the quotes of the Japanese yen reached the boundaries of a strong reversal zone of a large TF. Since October 15, the price has been adjusted laterally.

Forecast:

The general downward movement vector is expected to continue the next day. In the first half of the day, a short-term rise in the rate is not excluded. The calculated support shows the lower limit of the daily course.

Potential reversal zones

Resistance:

- 113.80/114.10

Support:

- 113.20/112.90

Recommendations:

There are no conditions for purchases on the Japanese yen market today. Short-term fractional lot sales are possible from the resistance zone.

GBP/JPY

Analysis:

The upward trend continues in the market of the pound/yen pair. After breaking through a strong resistance zone, this section turned into support. All the last decade, the price has formed an intermediate pullback. The ascending section, which began on October 22, has a reversal potential.

Forecast:

In the upcoming session, there is a high probability of a price pullback to the area of the support zone. At the end of the day or tomorrow, we can expect an increase in volatility and a resumption of price growth.

Potential reversal zones

Resistance:

- 157.00/157.30

Support:

- 156.00/155.70

Recommendations:

Sales are risky and not recommended. The main attention is proposed to be paid to the search for buy signals in the area of settlement support.

GOLD

Analysis:

The upward wave of August 9 sets a promising direction for the movement of the gold exchange rate. Its final section started on September 29. After contact with strong resistance, the price rolls back down.

Forecast:

On the current day, the price is expected to move between the nearest zones. A vector change is likely after an attempt to put pressure on the resistance zone, and the price will decrease to the support zone.

Potential reversal zones

Resistance:

- 1800.0/1805.0

Support:

- 1775.0/1770.0

Recommendations:

Today, gold trading is possible only in small lots, within the framework of individual trading sessions. Sales from the resistance zone are more promising.

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 take into account the duration of the instrument's movements in time!