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10.01.202211:52 Forex Analysis & Reviews: GBP/USD, AUD/USD, USD/CHF, USD/CAD simplified wave analysis and outlook for January 10

GBP/USD

Analysis:

On the chart of the English pound sterling, the trend direction since last February is set by a downward wave algorithm. The latest section is ascending, originating on November 12. The wave has the form of a stretched plane. The movement has entered the final phase. The target for the entire upswing may be the far resistance level.

Outlook:

In the first half of the day, today is expected a flat movement, with a downward vector. The decrease is possible not further than the calculated support. At the end of the day, one can expect an increase in volatility and a return to the uptrend.

Potential reversal zones

Resistance:

- 1.3670/1.3700

- 1.3590/1.3620

Support:

- 1.3520/1.3490

Recommendations:

Opening short positions on the pound chart today could be unprofitable. It is recommended to refrain from trading until the upcoming decline is completed, tracking buy signals on its end.

Exchange Rates 10.01.2022 analysis

AUD/USD

Analysis:

On the chart of the Australian currency in the pair against the US dollar, the unfinished upward wave pattern from December 3 last year is of most interest. The middle part (B) is approaching its end. The ascending section from January 6 has a reversal potential and may give a start to the final part (C).

Outlook:

A general sideways course between the nearest opposite direction zones is expected over the next 24 hours. After a likely pressure on the resistance zone, a downward movement can be expected, no further than the support zone. A resumption of an upward trend is not likely before tomorrow.

Potential reversal zones

Resistance:

- 0.7210/0.7240

Support:

- 0.7140/0.7110

Recommendations:

Trading in the pair's market today is not recommended. It is optimal to refrain from trading until clear buy signals appear in the support zone on the trading systems you are using.

Exchange Rates 10.01.2022 analysis

USD/CHF

Analysis:

The Swiss franc continues to form a downward plane on the major pair chart. In its structure since the end of November, the final part (C) is formed. Within this section, since last month the price forms a flat pullback.

Outlook:

In the coming day, the completion of the upward mood, reversal, and the beginning of price decrease is expected. A short-term breakout of the upper boundary of the resistance zone is possible in case of a change of course.

Potential reversal zones

Resistance:

- 0.9190/0.9220

Support:

- 0.9120/0.9090

Recommendations:

There are no conditions to open long positions today. It is recommended to monitor all emerging reversal signals to open short positions.

Exchange Rates 10.01.2022 analysis

Analysis:

A rising wave zigzag has been forming on the chart of the main Canadian dollar pair since last May. On a weekly scale, this wave forms a correction. Its structure at the moment does not look complete. Since December 20, the price has been falling.

Outlook:

Today on the pair's chart, the price decline is expected to continue, up to the calculated support. At the European session short-term growth is not excluded, not further than the resistance zone.

Potential reversal zones

Resistance:

- 1.2690/1.2720

Support:

- 1.2610/1.2580

Recommendations:

There are no conditions for open short positions in the Canadian market today. It is recommended to refrain from trading in the pair until there are buying signals in the trading system you are using.

Exchange Rates 10.01.2022 analysis

Explanation: In simplified wave analysis (SVA), waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid arrow background shows the structure formed. The dotted arrow shows the expected movements.

Attention: The wave algorithm does not take into account the duration of the instrument movements over time!

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Isabel Clark,
Analytical expert of InstaSpot
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