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FX.co ★ Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

GBP/USD

Brief analysis:

The price trend direction of the main British pound pair has been set by a descending wave algorithm since July of this year. The daily timeframe chart shows the corrective nature of this movement. The structure is missing a final segment.

Forecast for the week:

The upcoming week is expected to continue the overall downward trend of the British pound. In the first few days, a short-term price rebound upward, not exceeding the upper resistance boundary, is not excluded. Support runs along the upper level of the current wave's preliminary target zone.

Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Potential Reversal Zones

Resistance:

  • 1.2450/1.2500

Support:

  • 1.2200/1.2150

Recommendations

Buy: High risk, may result in losses.

Sell: If corresponding signals from your trading system appear, they may become the main direction for trading.

AUD/USD

Brief analysis:

The descending wave zigzag, which started in February, brought the Aussie quotes to a powerful potential reversal zone. The wave structure was not fully formed at the time of analysis. The ongoing wave segment begins on July 14th. Recently, a corrective flat has been forming within the wave structure.

Forecast for the week:

At the beginning of the upcoming week, an upward vector is more likely, with a flat character of movement. In the second half of the week, the probability of a reversal and the resumption of the price decline increased from the resistance zone.Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Potential Reversal Zones

Resistance:

  • 0.6510/0.6560

Support:

  • 0.6330/0.6280

Recommendations

Buy: Can be used with reduced trading volume within separate sessions. The potential is limited by resistance.

Sell: Will become relevant after confirmed reversal signals appear in the resistance zone.

USD/CHF

Brief analysis:

After the bearish wave that ended in mid-July, the price trend of the major Swiss franc pair is defined by a bullish wave. Its high potential suggests the transition of the entire movement to the daily timeframe. Last week, the quotes broke through intermediate resistance.

Forecast for the week:

The upcoming week is expected to be similar to the previous periods. After a likely move in the first few days along the support boundaries, we can expect a resumption of price growth. The calculated resistance demonstrates the maximum range of price increases.

Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Potential Reversal Zones

Resistance:

  • 0.9190/0.9240

Support:

  • 0.8910/0.8860

Recommendations

Selling: High risk, low potential.

Buying: After signals from your trading system appear in the support zone, they may become the primary direction for trading.

EUR/JPY

Brief analysis:

Over the past three years, the euro/yen cross rates have consistently moved north on the price chart. The current short-term unfinished wave counts from the end of July. Over the last four weeks, the price has mainly moved sideways, forming a correction. The ascending segment of the movement since September 14th has reversal potential. If confirmed, it will mark the beginning of the main wave's final part (C).

Forecast for the week:

A short-term sideways movement along the support boundaries is included in the next few days. By mid-week, the probability of increased volatility, a change in direction, and the start of active price growth increases.Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Potential Reversal Zones

Resistance:

  • 161.50/162.00

Support:

  • 157.50/157.00

Recommendations

Selling: No conditions for trades.

Buying: This can be used for trading after signals in the support zone are confirmed by your trading system.

EUR/CHF

Brief analysis:

The trend direction of the euro/Swiss franc cross rates has been a descending wave since the beginning of the year. Since the end of July, a corrective flat has formed in the structure, squeezed into a narrow corridor between the ninety-seventh and ninety-fifth price figures.

Forecast for the week:

The upcoming week will continue the overall sideways mood of the cross's price movement. In the first half, an ascending vector is more likely. A reversal and the beginning of a decline towards the lower boundary can be expected closer to the end of the week.

Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Potential Reversal Zones

Resistance:

  • 0.9610/0.9660

Support:

  • 0.9500/0.9450

Recommendations

Buying: Possible with a reduced lot size for intraday trading.

Selling: This may be used for trading from the resistance zone after corresponding signals appear on your trading system.

US Dollar Index

Brief analysis:

The prolonged period of weakening the US dollar's positions since a strengthening trend has replaced mid-July. It's worth noting that this wave serves as a correction to the previous trend segment on the daily timeframe chart. After breaking through the next resistance, the dollar's quotes consolidate above it.

Forecast for the week:

In the first half of the upcoming week, a sideways movement along the support boundaries can be expected. Activity and a resumption of growth are more likely towards the end of the week. Any economic data news can serve as a trigger.

Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US dollar index from September 18th

Potential Reversal Zones

Resistance:

  • 106.20/106.70

Support:

  • 104.80/104.30

Recommendations:

Selling the US dollar in major pairs needs more potential. It is wiser to maintain bearish positions in major currencies.

Explanation: In simplified wave analysis (SWA), all waves consist of 3 parts (A-B-C). Only the last unfinished wave is analyzed in each timeframe. Dotted lines indicate expected movements.

Attention: The wave algorithm does not consider the duration of instrument movements over 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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