On the chart of the main European currency pair, a short-term downward trend has been forming since the beginning of the year. The unfinished section is corrective and has been developing since the end of July. The structure of this wave indicates the formation of its final part (B), which was not complete at the time of analysis. After breaking through the intermediate resistance zone, the price consolidated in this zone.
At the beginning of the week, sideways movement is expected on the euro chart along the support zone. In the second half of the week, volatility may increase, followed by a reversal and a continuation of the upward price movement, potentially reaching the boundaries of the resistance zone. The resistance zone represents the upper boundary of the likely weekly trading range.
Resistance:
Support:
Buy positions: May become possible with a reduced position size after confirmed reversal signals appear near the reversal zone.
Sell positions: Have limited potential. A reduced position size is recommended for trades.
The U.S. dollar has been strengthening against the Japanese yen in the major currency pair since April of this year. A counter-trend correction began forming on July 23 and ended with a rapid decline of 8 price figures. A week ago, the price rebounded upward from a strong potential reversal zone. Throughout this period, prices moved mainly sideways.
Sideways movement with a downward bias is more likely during the first few days. The decline is expected to extend no further than the calculated support level. By the middle of the week, an increase in activity and a resumption of the upward price movement can be expected. During the week, the upward price movement may continue as far as the resistance zone.
Resistance:
Support:
Buy positions: May be considered during individual trading sessions with a fractional position size after reversal signals from your trading systems appear near the support zone.
Sell positions: Have limited potential and carry significant risk.
The trend direction of the British pound against the Japanese yen pair has been determined by an upward wave since April of this year. The unfinished section since mid-July is forming correction (B) of the current wave. At the time of analysis, its structure is close to completion.
Over the next couple of days, the price is likely to continue moving sideways along the levels of the support zone. Closer to the weekend, the probability of a reversal and a resumption of the upward movement increases. A change in direction is likely to be accompanied by a sharp increase in volatility. A brief break below the lower boundary of the support zone cannot be ruled out.
Resistance:
Support:
Sell positions: Are risky due to their limited potential.
Buy positions: Will become relevant after confirmed reversal signals from your trading systems appear near the support zone.
The Canadian dollar continues its downward wave, which began in June of this year. The wave has the structure of an extended flat. At the time of analysis, the structure of this wave is incomplete. A week ago, the price rebounded from the upper boundary of a strong, large-scale potential reversal zone.
Over the next few days, the price is expected to continue declining. In the area of the support zone, there is a high probability that conditions for a reversal and the beginning of an upward price movement will form during the second half of the week. Price fluctuations in the instrument are expected to remain within the range between the opposing zones.
Resistance:
Support:
Buy positions: May become possible after confirmed signals appear near the support zone.
Sell positions: Are possible but carry a high degree of risk. A reduced position size is recommended.
The New Zealand dollar major pair continues moving in a downward direction that began in May of this year. The unfinished corrective section has been developing since the beginning of June. The price is approaching the lower boundary of an intermediate potential reversal zone. A downward wave with reversal potential has been forming since the end of July.
Over the next week, the overall upward bias in price movement is expected to continue. During the first few days, sideways movement is possible, and brief pressure on the upper boundary of the resistance zone cannot be ruled out. A reversal and a resumption of the decline can then be expected. The calculated support zone indicates the lower boundary of the likely weekly trading range.
Resistance:
Support:
Sell positions: Will become relevant after appropriate signals from your trading systems appear.
Buy positions: Carry a high degree of risk. Potential is limited by the resistance zone.
The direction of gold price movement since May of this year has been determined by a downward flat pattern. In the short term, the direction of movement is determined by an unfinished corrective section of the wave from June 30. The price has approached the lower boundary of a strong potential reversal zone, but there are no signs of an imminent reversal.
Over the next few days, the upward movement is likely to continue. Pressure on and a brief break above the upper boundary of the calculated resistance level are possible. A reversal and a decline toward the support zone can then be expected. A change in direction may be accompanied by a significant increase in the instrument's volatility.
Resistance:
Support:
Buy positions: Have limited potential and may result in losses.
Sell positions: Suitable conditions for trades may emerge near the resistance zone after reversal signals appear.
Notes: In Simplified Wave Analysis (SWA), all waves consist of three parts (A-B-C). On each time frame, only the latest unfinished wave is analyzed. Expected movements are shown with a dashed line.
Attention: The wave algorithm does not take into account the duration of instrument movements over time.
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