Analysis:
The bearish wave that began in January this year continues to determine the price direction of the British pound major pair. At the time of analysis, the wave structure remains incomplete. Price has reached the upper boundary of a potential reversal zone on the hourly timeframe. Since June 19, the pair has been forming an upward segment whose wave degree exceeds that of the preceding correction.
Forecast:
During the coming trading days, the British pound is expected to continue moving sideways. A return to the support zone is likely, with possible brief pressure below its lower boundary. After that, a reversal and the start of a bullish move toward the estimated resistance levels are expected.
Resistance:
Support:
Recommendations:
Buy: May be considered after your trading system generates confirmed reversal signals near the support zone.
Sell: Limited downward potential.
AUD/USD
Analysis:
Since March this year, the Australian dollar major pair has been moving within a bearish expanded flat. The bearish wave that began in early May is forming the final segment (C) of the pattern. The target level lies along the upper boundary of a broad daily potential reversal zone.
Forecast:
The pair is expected to continue moving lower over the next couple of days. A brief break below the lower boundary of the support zone cannot be ruled out. Toward the end of the week, the probability of a reversal and the beginning of an upward move toward the resistance zone increases.
Resistance:
Support:
Recommendations:
Sell: May be considered during intraday trading sessions, with downward potential limited to the support zone.
Buy: May be considered after your trading system generates confirmed reversal signals near the support zone.
USD/CHF
Analysis:
Since the beginning of the year, the Swiss franc major pair has been following a bullish wave pattern. Since May, the final segment (C) has been developing within the wave structure. After breaking above a strong resistance level, the pair has formed an intermediate correction over the past two weeks. This corrective move remains incomplete at the time of analysis.
Forecast:
The current downward move is expected to be completed during the coming week. Over the next couple of days, the pair is likely to trade sideways within the estimated support zone. Toward the end of the week, the probability of a reversal and renewed growth toward the resistance zone increases.
Resistance:
Support:
Recommendations:
Sell: No meaningful potential and high risk.
Buy: May be considered after your trading system generates confirmed reversal signals near the support zone.
EUR/JPY
Analysis:
Since January this year, EUR/JPY has been forming a bullish wave within a sideways range. The current unfinished upward segment has been developing since May 1. A correction is forming within this wave segment and remains incomplete.
Forecast:
The pair is expected to continue trading sideways near the estimated resistance zone throughout the coming week. Increased volatility may result in a brief break above the upper boundary of the zone. Toward the end of the week, a reversal and a decline toward the support zone become more likely.
Resistance:
Support:
Recommendations:
Sell: May be considered after your trading system generates confirmed reversal signals in the reversal zone.
Buy: No favorable trading conditions are expected over the coming days.
AUD/JPY
Analysis:
Since mid-March this year, the Australian dollar/Japanese yen major pair has been following a bearish wave pattern. Trendlines drawn through the price extremes form a horizontal pennant on the chart. After reaching the upper boundary of the weekly potential reversal zone, the pair has entered a sideways drift.
Forecast:
The pair is expected to continue moving sideways over the next couple of days. Pressure on the lower boundary of the support zone cannot be ruled out. A reversal is then expected to develop, with an upward move becoming more likely toward the end of the week. The release of major economic data may serve as a catalyst for the trend reversal.
Resistance:
Support:
Recommendations:
Buy: May be considered after reversal signals appear near the potential reversal zone.
Sell: Very limited potential and high risk.
EUR/CHF
Analysis:
Since March this year, the short-term direction of EUR/CHF has been determined by a bullish wave. The unfinished bearish segment that began on June 22 is correcting the final segment (C) of the primary upward wave. An intermediate correction within this segment is nearing completion.
Forecast:
The pair is expected to remain in a sideways range and decline toward the support zone over the next couple of days. Increased activity and the formation of a reversal are expected during the second half of the week. After that, an upward move toward the estimated resistance zone is likely to begin.
Resistance:
Support:
Recommendations:
Buy: May be considered after your trading system generates confirmed reversal signals.
Sell: May be considered during intraday trading with a reduced position size.
EUR/GBP
Analysis:
On the higher timeframe, EUR/GBP continues to form a bearish flat. The current unfinished segment began on May 18. After breaking below a major support level, the pair spent the past month moving along that level while forming a correction.
Forecast:
At the beginning of the coming week, the pair is expected to continue trading sideways within the established price range. A brief rise toward the resistance zone cannot be ruled out. The second half of the week is expected to be more volatile, with a high probability of a trend reversal and renewed downside.
Resistance:
Support:
Recommendations:
Buy: Upward potential is limited by the resistance zone. A reduced position size is recommended.
Sell: May be considered after your trading system generates confirmed reversal signals near the resistance zone.
Ethereum
Analysis:
Ethereum has been moving higher since February. Since mid-April, a corrective expanded flat has been developing. Price has reached the upper boundary of a major monthly potential reversal zone. At the time of analysis, there are no signs of an imminent reversal.
Forecast:
The current sideways phase is expected to be completed by the end of the week. A reversal and the beginning of a new upward move are expected from the estimated support zone. The estimated resistance marks the upper boundary of the instrument's expected weekly trading range.
Resistance:
Support:
Recommendations:
Buy: May be considered after your trading system generates confirmed reversal signals.
Sell: Very limited upward potential and high risk.
Notes: In Simplified Wave Analysis (SWA), every wave consists of three segments (A-B-C). The analysis focuses on the most recent incomplete wave on each timeframe. The dotted lines indicate the expected price path.
Attention: The wave model does not account for the duration of price 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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