Stay 
Trading Conditions
Products
Tools
Analysis:
The analysis of the daily chart of the main European currency pair shows the incompleteness of the latest wave structure from July 14 of last year. The final part (C) takes the form of a shifting plane. At the time of analysis, it lacks the final segment.
Forecast:
The overall upward trend of the euro's price movements is expected to continue in the upcoming week. A downward vector is more likely in the first few days, with a decline towards the support zone. A change in direction and the resumption of price growth can be expected closer to the weekend.
Potential Reversal Zones
Recommendations:
Analysis:
The upward wave algorithm from May 3 of this year sets the direction of short-term fluctuations in the major yen pair. In recent weeks, the price has formed the middle part of wave (B) in the form of a shifting plane, which was not completed at the time of analysis. Quotes are approaching the lower boundary of the powerful potential reversal zone of the weekly timeframe.
Forecast:
In the coming days, the downward movement vector is expected to continue, with a decline in quotes no further than the support zone boundaries. A shift to a sideways course is highly likely to follow. A change in direction with the resumption of price growth can be expected closer to the weekend.
Potential Reversal Zones
Recommendations:
Analysis:
The bullish trend algorithm has set the direction of price fluctuations in the pound/yen cross for the past few years. The price has reached the boundaries of the potential reversal zone of the weekly timeframe. The latest, as yet incomplete segment starts from the beginning of May. The analysis of the wave structure shows the need for a correction. There are no signals of an imminent change in direction on the chart.
Forecast:
The upcoming week is expected to continue the pair's overall sideways movement. After the flat phase of the movement, another round of price growth will follow, up to the calculated resistance boundaries. The highest volatility is likely at the end of the week.
Potential Reversal Zones
Recommendations:
Analysis:
The price fluctuations of the major Canadian dollar pair fit into the algorithm of a downward plane that has dominated the daily chart for the past two years. The unfinished segment of the main course dates back to mid-April. The price is moving along the lower boundary of the large-scale potential reversal zone. The structure lacks the final segment.
Forecast:
In the next couple of days, the pair's quotes will continue to move sideways along the resistance, creating conditions for a change in direction. In the second half of the week, increased volatility and the resumption of downward movement can be expected.
Potential Reversal Zones
Recommendations:
Brief Analysis:
The bearish wave algorithm sets the overall direction of the New Zealand dollar's price trend since July last year. The middle part of the wave (B) is nearing completion. The upward segment from April 18 is not yet finished, and the wave lacks the final part.
Weekly Forecast:
The upward vector is likely to continue at the beginning of the upcoming week, with the pair rising to the resistance zone. After that, a reversal and the resumption of the bearish movement can be expected. A brief breach of the upper boundary of the resistance cannot be ruled out during the course change. The highest volatility is likely at the end of the week.
Potential Reversal Zones
Recommendations
Analysis:
Gold quotes continue to form the corrective segment of the instrument's upward trend, which started in March. The correction takes the form of an extended plane. At the time of analysis, this wave is not completed. The calculated resistance runs along the upper boundary of the weekly-scale potential reversal zone.
Forecast:
The price rise is expected to continue during the upcoming week. Near the resistance zone, a stop and the formation of reversal conditions can be expected. The likelihood of a decline in gold prices increases closer to the weekend.
Potential Reversal Zones
Recommendations:
Explanations: In simplified wave analysis (SWA), all waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed on each timeframe. Expected movements are shown with dashed lines.
Note: The wave algorithm does not account for the duration of movements of instruments over time.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
