EUR/USD
Brief Analysis:
A downward trend has been determining the main direction of movement in the major European currency pair since January of this year. Over the past six months, an unfinished segment of wave (B) has been developing. Since last week, the price has been forming an upward segment from the upper boundary of the intermediate potential reversal zone, with the potential to trigger a reversal.
Weekly Forecast:
Over the next couple of days, the sideways movement of the euro along the support zone is likely to continue. Conditions for a reversal and the beginning of a price rise are then likely to form. The major pair may move upward toward the calculated resistance levels. A breakout above them during the week is unlikely.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Buying: May be used for trading during individual sessions with a reduced volume size after confirmed signals appear.
Selling: Risky and may result in losses over the next few days.
USD/JPY
Brief Analysis:
On the Japanese yen chart, an upward wave has continued to develop since March of this year in the form of a running/extended flat. Within the larger wave structure, this segment corrects the downward trend. In its structure, the final part (C) is currently approaching completion. The price is approaching the lower boundary of the preliminary target zone.
Weekly Forecast:
Over the next few days, the most likely scenario is an upward price movement toward the boundaries of the calculated resistance zone. Closer to the weekend, volatility may increase, followed by a reversal and a continuation of the pair's decline. The release of important economic data may serve as a timing reference.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Buying: Has limited potential. It is safer to reduce the volume size when entering trades.
Selling: May become the main trading direction after reversal signals appear near resistance according to your trading systems.
GBP/JPY
Brief Analysis:
An upward wave started on the pound/yen pair chart in August. On a larger time frame, this segment forms the beginning of another wave of the dominant uptrend. Within the wave structure, an intermediate retracement has been developing over the past two weeks as part of the final segment (C), and it was not complete at the time of analysis.
Weekly Forecast:
Over the coming days, the pair's chart is expected to continue moving downward toward the support zone levels. By the end of the week, the corrective period is expected to end, followed by a reversal and the beginning of an upward movement. Increased volatility may coincide with the release of important economic data.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Selling: Risky and has limited potential.
Buying: Will become relevant after confirmed reversal signals appear near support.
USD/CAD
Brief Analysis:
The current wave structure on the Canadian dollar chart is upward. It has been developing since the middle of August this year. It is forming another wave in line with the instrument's dominant global trend. The wave structure is approaching completion. No signals of an imminent reversal are currently visible on the chart.
Weekly Forecast:
Over the next few days, there is a high probability that the upward movement will continue toward the calculated zone. Pressure on the upper boundary of resistance is possible. In the second half of the week, a reversal and the beginning of a downward movement in the pair may form. The calculated support represents the lower boundary of the pair's expected weekly range.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Buying: Has limited potential and is risky.
Selling: Will become relevant after confirmed reversal signals appear near the resistance zone according to your trading systems.
NZD/USD
The New Zealand dollar major pair has been moving downward over the past two months. This segment continues a wave on a larger time frame. This week, the price broke through an intermediate support level, approaching the upper boundary of the potential reversal zone on the daily time frame. At the time of analysis, the wave structure does not appear to be complete.
Weekly Forecast:
Over the next few days, sideways movement is likely to continue. There may be brief pressure on the lower boundary of the support zone. A reversal and the beginning of an upward movement in the pair's price can then be expected.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Selling: Has limited potential and is risky.
Buying: After confirmed reversal signals appear near support, may become the main trading direction for this pair.
EUR/GBP
Brief Analysis:
Since July of this year, an upward wave has continued to develop on the euro/pound pair chart. Over the past few months, correction (B) has been forming within a sideways flat structure. The price is constrained between clusters of levels belonging to potential reversal zones of different time frames.
Weekly Forecast:
The upward movement of the cross may continue during the first days of the coming week. Closer to the weekend, there is a high probability of a change in direction and the beginning of a downward price movement. A sharp increase in the instrument's volatility cannot be ruled out when the direction changes.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Buying: Has limited potential and may result in losses.
Selling: Signals from your trading systems will become relevant after they form near resistance.
GOLD
Analysis:
Gold prices have been correcting their record levels since August of this year. Over the past two weeks, the price has been within a cluster of potential reversal levels of different time frames, forming a flat range. Within the wave structure, this segment forms the middle part of correction (B) in the form of a running flat.
Forecast:
At the beginning of the week, sideways movement along the support zone is likely. Increased activity and a change in direction may be expected closer to the weekend. There is a high probability that the reversal will coincide with the release of economic news.
Potential Reversal Zones
Resistance:
Support:
Recommendations
Selling: Has limited potential and may result in a loss of the trading account.
Buying: May be used for trading after corresponding reversal signals appear near support according to your trading systems.
Explanations: In simplified wave analysis (SWA), all waves consist of three parts (A-B-C). In each time frame, the latest unfinished wave is analyzed. Expected movements are shown with dashed lines.
Attention: The wave algorithm does not take into account the duration of instrument movements over time.
