FX.co ★ Simplified wave analysis and forecast for EUR/USD, AUD/USD, GBP/JPY on February 15

EUR/USD

Analysis:

The unfinished section of the upward trend of the common European currency has been counting down since November 4 last year. The price has been adjusted over the past month. The ascending section that began on February 5 has reached the reversal potential and may be the beginning of a new wave at the main course. At the end of last week, a pullback to the bottom was completed as part of this movement.

Forecast:

Today, in the first half of the day, there is a high probability of a flat mood of the pair's movement, with the price falling to the support zone. At the end of the day, the upward movement rate is expected to resume.

Potential reversal zones

Resistance:

- 1.2160/1.2190

Support:

- 1.2100/1.2070

Recommendations:

Trading on the euro market today is only possible within the intraday. Until the change in the short-term trend is confirmed, only trades with a fractional lot can be safe, according to the expected sequence.

AUD/USD

Analysis:

Throughout the past year, the upward momentum has driven the Australian dollar up. As a result, the price reached the lower limit of the strong zone of a potential reversal of a large TF. On a small scale, the unfinished wave counts down from December 21. In its structure, the final part (C) is formed.

Forecast:

A lateral movement vector is expected in the next session. By the end of the day, you can expect an activation, an increase in the rate, and a second attempt to put pressure on the resistance zone.

Potential reversal zones

Resistance:

- 0.7820/0.7850

Support:

- 0.7750/0.7720

Recommendations:

Trading the Australian dollar today can be risky and possible within the sessions, in fractional lots. Priority should be given to the purchase of the tool.

GBP/JPY

Analysis:

The pair's market continues its upward trend. The dominant wave pushed the pair's quotes through the reversal zone. Above the current course, the next intermediate zone passes, which may cause another stop.

Forecast:

Today, the pair's market will be dominated by the overall upward movement rate. In the European session, a "sideways" and short-term decline, up to the zone of calculated support, is not excluded. The active growth phase is likely at the end of the day or tomorrow.

Potential reversal zones

Resistance:

- 146.60/146.90

Support:

- 145.60/145.30

Recommendations:

Today, purchases are relevant in the pair's market. Sales are very risky and not recommended.

Explanation: 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 line shows the expected movements.

Attention: The wave algorithm does not take into account the duration of the tool movements in time!