EUR/USD

Analysis:

The unfinished wave of the downward trend in the main European currency pair has been developing since the end of January this year. Within the latest part, a complex counter-trend corrective wave has been developing since the middle of last month. At the time of analysis, the wave structure is forming conditions for the completion of the correction and the beginning of a new trend.

Forecast:

At the beginning of the upcoming week, an upward movement in the euro is most likely, followed by sideways movement along the boundaries of the calculated resistance. Brief pressure on the upper boundary of the zone cannot be ruled out. Volatility is likely to increase and a reversal may occur closer to the weekend. This may coincide with the release of important economic data.

Potential Reversal Zones

Resistance:

• 1.1720/1.1770

Support:

• 1.1520/1.1470

Recommendations:

• Sales: Sell positions may be considered after sell signals for the instrument appear near the calculated resistance.
• Purchases: Trades over the next few days will carry increased risk and have limited potential.

USD/JPY

Analysis:

The trend is changing on the chart of the major Japanese yen pair. The currently unfinished bullish trend began on August 3. Its wave degree exceeds the size of the correction in the previous bullish trend. At present, the price is within a cluster of potential reversal zones of different scales. Before the rise can continue, the price needs to consolidate at the level reached through a correction.

Forecast:

At the beginning of the upcoming week, a decline and sideways movement along the support boundaries are expected. A reversal and the beginning of an active phase of price growth can then be expected. When the direction changes, a brief increase in volatility cannot be ruled out, with a short-term breach of the lower boundary of the reversal zone.

Potential Reversal Zones

• 159.60/160.10

Support:

• 158.00/157.50

Recommendations:

• Sales: May be made using fractional volumes during individual trading sessions.
• Purchases: To enter trades, it is safer to monitor emerging signals near support.

GBP/JPY

Analysis:

On the chart of the British pound/Japanese yen pair, the direction has been determined by a global upward trend in recent years. The price has reached the lower boundary of a strong potential reversal zone. From its lower boundary, the price formed a counter-trend correction for most of last month. The upward trend from August 3 has reversal potential.

Forecast:

At the beginning of the upcoming week, sideways price movement is expected, most likely with a downward bias. After contact with the support zone, conditions for a reversal may begin to form. A subsequent resumption and acceleration of the pair's upward movement can then be expected. This may coincide with the release of important economic news.

Potential Reversal Zones

Resistance:

• 218.70/219.20

Support:

• 216.00/215.50

Recommendations:

• Sales: Have limited potential and carry a high level of risk to the trading account.
• Purchases: Are premature until the upcoming decline is complete. To enter trades, emerging signals near the support zone should be monitored.

USD/CAD

Analysis:

Since the beginning of this year, quotes for the main Canadian dollar pair have been forming an upward wave structure within a broad sideways channel. Within the short-term trend, the unfinished trend from June 24 has a downward direction. The price has broken through an intermediate support zone, which has become resistance.

Forecast:

Over the next couple of days, the price is highly likely to retrace upward and move sideways along the calculated resistance zone. The second half of the week is expected to be more volatile. After possible pressure on the upper boundary of the zone, a change in direction and a decline in price can be expected, potentially reaching the support boundaries.

Potential Reversal Zones

Resistance:

• 1.3780/1.3830

Support:

• 1.3670/1.3620

Recommendations:

• Purchases: Will become relevant after appropriate signals appear in the trading systems you use near the support zone.
• Sales: Have limited potential; the volume size should be reduced as much as possible.

NZD/USD

Analysis:

Since June this year, the New Zealand dollar in the main pair has been forming an upward wave. On a larger scale, this movement marked the beginning of a new trend. Within the wave, the middle part (B) is developing in the form of a running flat. The price is confined between intermediate levels of different timeframes within a narrow price range.

Forecast:

The upcoming week is expected to bring the completion of the rise, the formation of a reversal, and the beginning of a price decline. The downward movement may continue to the support zone. When the direction changes, a sharp increase in volatility and brief price pressure on the upper resistance boundary cannot be ruled out.

Potential Reversal Zones

Resistance:

• 0.6000/0.6050

Support:

• 0.5900/0.5850

Recommendations

• Purchases: Have limited potential and may be risky.
• Sales: Will become possible only after reversal signals appear in your trading systems.

Gold

Analysis:

On the weekly timeframe, a horizontal downward correction has continued to develop on the gold chart since April this year. The final part (C) of the wave remains unfinished. Over the past couple of months, the price has formed a horizontal range. Over the past week, quotes have been retracing downward.

Forecast:

During the upcoming week, overall sideways price movement is expected to continue. A downward direction is more likely during the first few days. Its completion can be expected near the support zone. The price may then shift into sideways movement, creating conditions for a resumption of the upward movement. A change in direction may occur at the end of the week or in the following days.

Potential Reversal Zones

Resistance:

• 4710.0/4730.0

Support:

• 4600.0/4580.0

Recommendations:

• Sales: Have limited potential due to support. They are risky until the current wave is fully completed.
• Purchases: May be made using fractional volumes after confirmed reversal signals appear near the support zone.

#Bitcoin

Analysis:

Since February this year, Bitcoin prices have been forming an upward wave within a sideways range. The final part (C) began in early June. The final part of this movement began a week ago and has brought the coin's price, by now, into an area containing clusters of potential reversal levels across different timeframes.

Forecast:

During the upcoming week, overall sideways price movement is expected to continue for this cryptocurrency. An upward direction is more likely over the next few days, with another rise in price toward the resistance levels. The price may then move sideways in this zone, creating conditions for the beginning of a counter-trend decline.

Potential Reversal Zones

Resistance:

• 79400.0/81400.0

Support:

• 75000.0/73000.0

Recommendations:

• Purchases: Will be possible only during individual trading sessions using fractional volumes.
• Sales: Are not relevant until confirmed reversal signals appear near resistance.

Notes: In simplified wave analysis (SWA), all waves consist of three parts (A-B-C). On each timeframe, the latest unfinished wave is analyzed. Expected movements are shown with dashed lines.

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