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The trend direction of the British pound has been determined by a downward wave since January of this year. A corrective part (B), which remains incomplete at present, has been developing within the wave since the end of June. Prices are moving sideways within a range between strong potential reversal zones on different time frames.
At the beginning of the current week, sideways movement in the British currency is expected to continue with an upward bias, potentially reaching the calculated resistance zone. Pressure on its upper boundary is possible. Toward the end of the week, the probability of increased volatility and a change in the direction of movement rises. The support zone indicates the lower boundary of the expected weekly trading range.
Resistance:
Support:
Buy positions: May be considered with a fractional position size during intraday trading. Potential is limited by resistance.
Sell positions: May become possible after confirmed reversal signals from your trading systems appear near the reversal zone.
In the short term, the direction of movement of the Australian dollar major pair has been determined by a downward-wave algorithm since the beginning of this year. Within a larger wave, this section forms an unfinished correction in the form of an extended flat. Prices are approaching the upper boundary of a strong potential reversal zone.
Over the next couple of days, the upward movement is expected to continue, with the price rising toward the resistance zone. Closer to the weekend, the probability of a change in direction and the beginning of an upward price movement increases. The support levels indicate the lower boundary of the expected weekly trading range.
Resistance:
Support:
Sell positions: Will become relevant after confirmed reversal signals from your trading systems appear near the resistance zone.
Buy positions: May be considered during individual trading sessions with a reduced position size.
The direction of movement of the Swiss franc major pair has been determined by an upward-wave algorithm since January of this year. Since June, the price has been forming an unfinished correction in the form of a running flat. Prices are approaching the upper boundary of a previously broken potential reversal zone.
Over the next couple of days, the downward movement is expected to continue, with the price declining toward the support zone. The second half of the week is expected to be more volatile, with a reversal and a subsequent rise in the pair's exchange rate, potentially reaching the calculated resistance levels.
Resistance:
Support:
Sell positions: May be considered during individual sessions as scalping trades with a fractional position size. Potential is limited by support.
Buy positions: Will become relevant after confirmed reversal signals appear near the support zone.
The EUR/JPY pair has moved predominantly sideways since January of this year, forming an extended flat pattern on the chart. The final section began on July 30, fully completing the wave structure of the correction. The upward section from August 3 has reversal potential and, if confirmed, will initiate a new short-term trend.
Over the next few days, sideways movement is expected to continue, with prices declining toward the support levels. In the second half of the week, a reversal and a resumption of the pair's upward movement can be expected. The resistance zone indicates the upper boundary of the expected weekly trading range for the pair.
Resistance:
Support:
Sell positions: Have limited potential and may result in losses.
Buy positions: Will become relevant after confirmed reversal signals appear near the support zone.
The short-term wave structure of the EUR/GBP pair began in November of last year and has a bearish direction. The unfinished section of the wave is corrective and has been developing since mid-July. The pair is approaching intermediate support. At the time of analysis, an intermediate retracement is forming within the structure of this wave.
The end of the pair's sideways period is expected over the next couple of days. After that, a reversal and a resumption of the upward movement can be expected from the calculated support zone. The resistance zone represents the upper boundary of the likely trading range.
Resistance:
Support:
Buy positions: May be considered near support after signals appear in your trading systems.
Sell positions: Are risky and have limited potential.
The Ethereum wave structure, which remains unfinished at present, is directed upward on the price chart and has been developing since June 5. The final section of wave (C) is developing within the structure. The price has been moving sideways for the past three weeks between potential reversal levels of different scales.
Over the next few days, sideways movement of the coin is expected, with a downward bias. From the support zone, a change in direction and the beginning of an upward movement can then be expected, potentially continuing until the upward move is fully completed near the calculated resistance level. A breakout beyond the calculated zones is unlikely.
Resistance:
Support:
Sell positions: Have limited potential and a high degree of risk. A reduced position size is recommended for trades.
Buy positions: May become possible after reversal signals confirmed by your trading systems appear near the support zone.
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.