Traders Forex Reviews Wave Analysis
29.10.202109: 35 Analytical Forex Reviews: Simplified Wave Analysis and Forecast EUR / USD, USD / JPY, GBP / JPY on October 29,
Relevance to 09:00 2021-10-30 UTC +2 EUR / USD Analysis: In the European currency market, a downward trend dominates from the beginning of the current year. Within the framework of the last part (c) from the end of September, a counter-correction is formed, not completed so far. Forecast: At the nearest session, the completion of the downward rollback is expected. In the second half of the day, the probability of turning and returning to the upward rate increases, with the price rising to the resistance zone. Potential reversal zones Resistance: – 1.1720/1.1750 Support: – 1.1660/1.1630 Recommendations: Short-term purchases from the support zone are possible in the Euro market today. The lift potential is demonstrated by the estimated resistance zone. USD/JPY Analysis: Unfinished area the dominant bullish trend of the Japanese yen schedule is counting down from September 22. Quotations of the pair reached the lower limit of a strong potentially turning zone. The last two weeks of quotation of the pair are formed in the lateral plane and form an intermediate rollback. Forecast: Today the price is expected to move mainly horizontally, in the price corridor between the nearest opposite zones. Potential reversal zones Resistance: – 113.90/114.20 Support: – 113.30/113.00 Recommendations: Trading in the Japanese yen market today is possible only in the framework of individual trading sessions in small lots. More promising purchases from the support area. GBP/JPY Analysis: The English pound/Japanese yen cross-country chart continues to form the March 18 ascending wave. Quotes of the pair pushed the level of strong resistance of a large TF. Over the past two weeks, the pair’s quotes rolled back to new support, creating conditions for further jerking up. Forecast: Today, the general fleet motion vector is expected to continue. At the next session, pressure on the support zone is likely. By the end of the day, the probability of increasing volatility and returning to active price growth increases. Potential reversal zones Resistance: – 157.10/157.40 Support: – 156.20/155.90 Recommendations: Today there are no conditions for sale on the cross-country market. Recommended in the area Calculating support Tracking emerging signals to buy a tool. Explanations: In a simplified wave analysis (Uv), the waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. A solid background of the arrows is shown formed structure, dotted – expected movements. Attention: The wave algorithm does not take into account the duration of the movements of the time tool! * The presented market analysis is informative and is not a guide. to the transaction. Respectfully, Analyst InsaForex Vyacheslav Ognev © 2007-2021