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Wave analysis

22.09.202109:22 Forex Analysis & Reviews: Simplified wave analysis and forecast for GBP/USD, AUD/USD, USD/CHF, USD/CAD on September 22

GBP/USD

Analysis:

The main direction of the price movement of the British pound is set by the upward wave that began in March last year. The incomplete wave on the main course leads from July 20. The middle part (B) is being completed in the wave structure. The price has reached the upper limit of strong support for a large TF.

Forecast:

During the next sessions, a flat mood of price movement is expected in the area of the support zone. The probability of a reversal and the beginning of a price rise increases.

Potential reversal zones

Resistance:

- 1.3720/1.3750

Support:

- 1.3630/1.3600

Recommendations:

Until the end of the current wave, trading transactions on the pound market are very risky. After the appearance of clear reversal signals in the support zone, purchases are recommended.

AUD/USD

Analysis:

The exchange rate of the Australian dollar in the last year and a half relative to the US currency is mainly growing. For most of the current year, the price was adjusted in the form of a zigzag. The ascending section of August 20 interrupted this trend, giving rise to a new wave at the main exchange rate. In recent weeks, the price has been rolling down for a correction.

Forecast:

In the first half of the day, a mainly sideways course of price movement is expected. At the end of the day or tomorrow, we can expect an increase in volatility and the beginning of the pair's exchange rate growth. When changing the direction, a short-term puncture of the lower support border is not excluded.

Potential reversal zones

Resistance:

- 0.7290/0.7320

Support:

- 0.7220/0.7190

Recommendations:

There are no conditions for sale on the market today. It is recommended to monitor the emerging signals for the purchase of the instrument.

USD/CHF

Analysis:

On the chart of the main Swiss franc pair, the direction of price movements within the day is set by the descending wave algorithm of June 18. By the current day, the wave structure most resembles a stretched plane without the last section. The descending section from September 20 has a reversal potential.

Forecast:

Over the next day, a smooth shift of the pair's price from the upper limit of the price corridor to the settlement support zone is expected.

Potential reversal zones

Resistance:

- 0.9270/0.9300

Support:

- 0.9200/0.9170

Recommendations:

Today, short-term sales from the resistance zone with a reduced lot are possible on the pair's market.

USD/CAD

Analysis:

In the past two months, the price of the Canadian dollar has moved mainly sideways, forming a downward stretched plane on the chart. Its structure lacks the final part (C).

Forecast:

Today, you can expect the price to move in the corridor between the nearest oncoming zones. After the probable growth in the next session, we can expect a second price decline to the support zone by the end of the day.

Potential reversal zones

Resistance:

- 1.2840/1.2870

Support:

- 1.2760/1.2730

Recommendations:

Trading on the pair's market in the next day may be risky and is not recommended. The main attention is proposed to be paid to the search for sell signals in the area of the resistance zone.

Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure, and the dotted one shows the expected movements.

Attention: The wave algorithm does not consider the duration of the pair's movements in time!

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Isabel Clark,
Analytical expert of InstaSpot
© 2007-2024

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