The British pound continues to move lower against the US dollar, extending the downward trend that began in January this year. The corrective counter-wave has now been completed. Since July 15, the final part of the current wave structure (Wave C) has been developing to the downside. Within this segment, the market appears due for an intermediate pullback.
During the coming week, the pound is expected to continue trading near the projected support zone. A reversal may then develop, followed by the beginning of an upward move towards the resistance zone. A shift in direction, accompanied by increased volatility, is likely towards the end of the week.
Resistance:
Support:
Buy: Monitor the support zone for confirmed bullish reversal signals from your trading system.
Sell: High risk and may result in losses.
AUD/USD
Since the beginning of May, the Australian dollar has generally been moving lower. The current corrective wave has been developing since late June. Over the past month, price has formed a sideways-sloping bearish flat pattern. At the time of analysis, the wave structure remains incomplete.
At the start of the week, the pair is expected to maintain its overall sideways bias. A brief rise towards the resistance zone is possible during the first few days. Afterwards, the market is expected to reverse and resume its decline. The projected support zone is expected to serve as the lower boundary of the week's range.
Resistance:
Support:
Sell: Wait for confirmed sell signals from your trading system near the resistance zone before opening positions.
Buy: Trades are considered relatively risky. Position size should be kept to a minimum.
USD/CHF
The dominant short-term uptrend that has been in place since the beginning of the year has brought USD/CHF to the lower boundary of a major potential reversal zone. The upward move is entering its final stage. Over the past week, price has been consolidating sideways, with no immediate reversal signals currently visible.
The pair is expected to continue its overall upward movement during the coming week, with the advance likely to end near the resistance zone. A brief pullback towards support is possible at the beginning of the week. Increased volatility and renewed upward momentum are expected towards the end of the week.
Resistance:
Support:
Sell: Risky and offering limited profit potential.
Buy: Consider long positions only after confirmed bullish reversal signals appear within the reversal zone.
EUR/JPY
Since May, EUR/JPY has been following a bullish wave structure. The current wave is approaching completion. Last week, the pair reached the lower boundary of a major potential reversal zone. One final segment of the wave structure is still outstanding.
At the beginning of the coming week, the pair is expected to trade mainly sideways near the resistance zone. A reversal may then develop, followed by the start of a downward move.
Resistance:
Support:
Buy: Risky. Consider reducing position size.
Sell: Short positions may be considered once your trading system confirms reversal signals within the resistance zone.
AUD/JPY
The movement of AUD/JPY has been governed by a broad bearish flat pattern since March last year. Since late June, the middle section of the current wave structure has been forming and remains incomplete. Two weeks ago, the pair broke above an intermediate resistance level and has been consolidating above it in preparation for further gains.
A downward move towards the support zone is more likely at the beginning of the week. Closer to the weekend, the probability of a bullish reversal increases. The projected resistance zone is expected to limit further upside.
Resistance:
Support:
Sell: Possible with reduced position size for short-term trades. Downward potential is limited by support.
Buy: Long positions become relevant after appropriate bullish signals appear near the support zone.
EUR/CHF
Since March this year, EUR/CHF has been following a bullish wave structure. The pair is approaching the lower boundary of a major potential reversal zone. At the time of analysis, the wave remains incomplete, and there are no confirmed signals of a trend reversal.
During the first few days of the coming week, the pair is likely to trade sideways near the resistance zone. A brief move above the upper boundary of the zone cannot be ruled out. During the second half of the week, the probability of a reversal increases, with a downward move expected to begin.
Resistance:
Support:
Buy: Limited upward potential and may result in losses.
Sell: Consider short positions only after your trading system confirms reversal signals.
Notes
In Simplified Wave Analysis (SWA), every wave consists of three parts (A–B–C). Only the most recent incomplete wave is analysed on each timeframe. The dashed lines indicate the expected direction of price movement.
Attention: The wave algorithm does not account for the duration of price movements over time.
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