Traders Forex Reviews Wave Analysis
30.09.202112: 59 Analytical Reviews Forex: Forecast for October for Simplified Wave Analysis EUR / USD, USD / JPY, GBP / JPY, GOLD
Relevance to 12:00 UTC + 2 EUR / USD Analysis: The pan of the pan-European currency since March last year shows a steady tendency to increase. From the beginning of the current year, the price is adjusted. However, the reduction potential limits the strong zone of subscribing weekly TF. Forecast: It is expected in the coming month completion of the current decline, change of trend direction and start of active growth of the euro exchange rate. There is a high probability that the reversal will occur within the potential reversal zone. Potential reversal zones Resistance: – 1.2200/1.2300 Support: – 1.1520/1.1420 Recommendations: Sales in the euro market are possible only within the current correction waves. They have little potential. Most attention should be paid to finding signals for the purchase of the tool in the area of design support. USD/JPY Analysis: The Japanese yen major chart is dominated by a bullish trend. The current wave structure does not appear complete. This trend can be reversed only by a strong resistance zone of the oldest TF. At the time of analysis, the price of the pair is selected to its lower limit. Forecast: After several attempts to pressure the resistance zone in the coming month, you can wait for the beginning of the downward correction. Downside potential limits Strong support is below which price reduction is unlikely. Potential reversal zones Resistance: – 114.70 / 115.70 Support: – 110.30 / 109.30 Recommendations: In October, in trade transactions with yen, an emphasis is worth making a pair. Sales will be possible only after the appearance of clear reversal signals. The potential of the upcoming decline will be small. GBP / JPY Analysis: Analysis of the graph of a cross pair of Pound / Yen for recent years show the formation of a side figure most resembling a shifting plane. The motion structure is in the final phase. Forecast: In the coming weeks, it is worth waiting for the continuation of the general upward course of movement. Oncoming rollbacks are likely to be minimal, in the form of a side fleet. The calculated resistance shows the upper limit of the expected monthly growth of the pair. Potential reversal zones Resistance: – 164.00/165.00 Support: – 149.00/148.00 Recommendations: In the near future there will be no conditions for sales in the cross-country market. All attention is proposed to focus on finding the right places to buy the tool. GOLD Analysis: The global trend of recent years in the gold market is aimed at the growth of its exchange rate. However, the price decline that began in June last August has great potential. The current wave structure is not complete. Price sold support for a large TF, which will now become a powerful resistance. Forecast: The downward trend is likely to continue in the coming month. In the first decade of October, short-term price growth to the zone of design resistance is possible. Potential reversal zones Resistance: – 1810.0/1840.0 Support: – 1600.0/1570.0 Recommendations: When buying gold, you should take into account the limited lifting potential. The Best Prospect sales look like. The optimal entry point to the trade transaction is estimated resistance. ,, Explanations: In simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed. The solid background of the arrows shows the formed structure, dashed – the expected movements. Attention: The wave algorithm does not take into account the duration of the tool’s movements over time! * Market analysis presented is informative and non-informative guidance for the transaction. Respectfully, Analyst InsaForex Vyacheslav Ognev © 2007-2021