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16.10.201911:14 Forex Analysis & Reviews: Simplified wave analysis for October 16th. GBP/USD: waiting for depreciation; USD/JPY: yen continues to weaken against the dollar; USD/CHF: market unchanged

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

GBP/USD

Analysis:

In recent months, the direction of the trend of the British pound sets an upward wave. The final stretch started a week ago. To date, the pair's quotes are in the zone of a potential reversal. The wave structure looks complete. The counter section from October 11 has a high wave level.

Forecast:

In the near future, the price of the pair is expected to decrease. This can be a correction within the current wave or the beginning of a counter wave. Today, a flat mood is likely, mainly with a downward vector.

Potential reversal zones

Resistance:

- 1.2720/1.2750

Support:

- 1.2640/1.2610

Recommendations:

Trading the pound today makes sense on small TF within the intraday. Sales are a priority. For longer trades, you need to wait for the completion of the upcoming decline and track the signals of buying the pair at its end.

Exchange Rates 16.10.2019 analysis

USD/JPY

Analysis:

On the yen chart, the upward wave continues. The last section started on October 3. It has a pronounced impulse appearance. The figure above from the current rate is a powerful resistance of a large scale.

Forecast:

In the coming days, the continuation of the main motion vector is expected. At the European session, a sideways or short-term decline to the support zone is possible. An active growth phase is likely at the end of the day.

Potential reversal zones

Resistance:

- 109.20/109.50

Support:

- 108.50/108.20

Recommendations:

Today, the purchase of the instrument is recommended. Sales are risky, there is a high probability of a sharp change of rate.

Exchange Rates 16.10.2019 analysis

USD/CHF

Analysis:

Analysis of the 4-hour franc chart shows the absence of a dominant price direction in the current year. In the short term, the trend is upward, with the generally flat nature of movements. The price supports the resistance level of a large scale.

Forecast:

In the coming sessions, the price of the pair is expected to move in the side corridor between the nearest counter zones. In the first half of the day, a decrease is likely. A short-term breakthrough of the lower boundary of the zone is not excluded. The ascending phase is expected at the end of the day or tomorrow.

Potential reversal zones

Resistance:

- 1.0010/1.1040

Support:

- 0.9950/0. Nine thousand nine hundred twenty

Recommendations:

Trading on the pair market today is possible only within the intraday style. The sequence of transactions is recommended according to the described algorithm.

Exchange Rates 16.10.2019 analysis

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

Attention: The wave algorithm does not take into account the length of time the tool moves!

Isabel Clark
Analytical expert of InstaForex
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