Brief analysis:
The direction of price movement of the common European currency has been determined by a downward wave since the end of January this year. The final part of correction (B) is developing within the wave structure. In recent weeks, quotes have been moving along the lower boundary of a strong potential reversal zone. In recent weeks, the price has mainly been moving sideways.
Weekly forecast:
During the first days of the coming week, a downward direction in the price movement of the European currency is most likely, potentially reaching the support boundaries. Closer to the weekend, the probability of increased volatility, a reversal, and the beginning of a price rise increases. The upper boundary of the pair's expected weekly range is indicated by the calculated resistance level.
Potential reversal zones
Resistance:
Support:
Recommendations
Buying: has limited potential. It is safer to reduce the volume size.
Selling: may be used for trading after appropriate signals appear near the support zone.
Brief analysis:
The unfinished wave of the short-term uptrend of the major Japanese yen pair has been developing since August 3. Within a larger wave structure, the wave forms the beginning of a new trend segment of a larger wave pattern. Since the beginning of September, a downward correction has been forming within this wave pattern.
Weekly forecast:
For most of the coming week, sideways movement is expected, predominantly along a lateral vector within the support zone. Increased activity and a resumption of the upward price movement can be expected closer to the weekend. When the direction changes, a brief penetration below the lower boundary of the sideways price range cannot be ruled out.
Potential reversal zones
Resistance:
Support:
Recommendations
Buying: carries a high degree of risk and may be unprofitable.
Selling: will become relevant after confirmed signals appear near the support zone in your trading systems.
Brief analysis:
The direction of the short-term trend of the British pound/Japanese yen pair since the beginning of August this year is determined by an upward running flat. Within the wave structure, the middle part (B), which remains unfinished as of today, has been forming since the beginning of September. Since last week, a correction has been developing in a sideways range along a previously broken support level that has become resistance.
Weekly forecast:
At the beginning of the coming week, sideways movement remains likely. A return of the price to the resistance levels cannot be ruled out. In the second half of the week, increased activity, a change in direction, and a resumption of the downward movement are expected. The support zone runs along the upper boundary of the preliminary target zone.
Potential reversal zones
Resistance:
Support:
Recommendations
Buying: is not advisable until the current wave is complete, as it carries increased risk.
Selling: may be used for trading after reversal signals appear near the calculated resistance level.
Brief analysis:
The unfinished upward wave structure of the Australian dollar/Japanese yen pair has been developing since August 3. During the past two weeks, the corrective part of the wave has been forming and remains unfinished. The upper level of the strong reversal zone indicates the target boundary of the current correction.
Weekly forecast:
Over the coming days, a downward bias is expected to remain, with the price moving toward the support boundaries. Toward the end of the week, a reversal and a resumption of the upward movement can be expected. When the direction changes, a brief penetration below the lower boundary of the reversal zone cannot be ruled out.
Potential reversal zones
Resistance:
Support:
Recommendations
Selling: may be possible during individual trading sessions with a reduced volume size.
Buying: is not recommended until reversal signals appear near the support zone in your trading systems.
Brief analysis:
Since the end of August this year, Ethereum quotes have changed direction toward the "south" of the price field. The wave is developing predominantly sideways, forming the beginning of a running flat. Analysis of the structure shows that the middle part (B) is still forming and has not been completed at the time of analysis. Ethereum quotes are approaching the lower boundary of the potential reversal zone.
Weekly forecast:
Over the coming days, continued upward price movement is expected. A pause and the formation of a reversal are likely near resistance. The second half of the week may be more volatile. A change in direction and the beginning of a price decline can be expected.
Potential reversal zones
Resistance:
Support:
Recommendations
Selling: may be used for trading after confirmed trade-entry signals appear near the resistance zone.
Buying: carries a high degree of risk and may result in losses to the trading account.
Brief analysis:
A rising running flat has been developing on the Litecoin chart since the beginning of June. Within this wave, the corrective part (B) has not yet completed its formation. The upper boundary of the reversal zone has become strong resistance, limiting the extent of the correction.
Weekly forecast:
Over the coming days, the most likely scenario will be continued sideways movement within a horizontal price range. A bullish direction is more likely. At the end of the week, the probability of increased volatility, a change in direction, and the beginning of a price decline increases.
Potential reversal zones
Resistance:
Support:
Recommendations
Buying: may be possible during individual sessions with a reduced volume size.
Selling: is not recommended until reversal signals appear near the resistance zone in your trading systems.
Brief analysis:
Gold prices continue their movement toward the "south" of the chart, which began on August 18 and represents a corrective move within the global trend. Since the beginning of September, an unfinished flat correction has been developing within the wave structure. Quotes are located within a cluster of potential reversal zones across different time frames.
Weekly forecast:
Over the coming days, continued price movement along the boundaries of the support zone is expected. Subsequently, there is a high probability that price fluctuations will shift into a sideways range, creating conditions for a change in direction. When the direction changes, a brief penetration below the lower boundary of the zone cannot be ruled out.
Potential reversal zones
Resistance:
Support:
Recommendations
Selling: has limited potential and may become unprofitable.
Buying: will become promising after confirmed signals appear near the support zone in 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 an instrument's 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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