08.10.2021 11:58 Forex Analysis Reviews: Simplified Wave Analysis and Forecast EUR/USD, USD/JPY, GBP/JPY, GOLD for October 8

Traders Forex Reviews Wave Analysis

08.10.202111: 58 Analytical Forex Reviews: Simplified Wave Analysis and Forecast EUR / USD, USD / JPY, GBP / JPY, GOLD on October 8,

Relevance until 11:00 2021-10-09 UTC +2 EUR / USD Analysis: In the market, the main pair of a pan-European currency since March last year is dominated by an upward trend. All current year price is adjusted down. The structure of the wave looks complete. Quotes are at the bottom limit of a strong potentially reversal zone. Running signals not yet observed. Forecast: The general fleeting nature of price fluctuations is expected today. At the next session, a short-term depreciation is possible, no further than the support area. By the end of the day, the probability of price growth increases. Potential reversal zones Resistance: – 1.1600/1.1530 Support: – 1.1520/1.1490 Recommendations: The upcoming rise is contrary to the trend of movement, so purchases of the euro today can be risky. It is better to crush the lot in them. It is optimal to refrain from entering the pair market until the price rollback is completed, tracking the signals for the sale of the tool. USD/JPY Analysis: The price on the daily TF of the Japanese yen chart since March of this year forms a downward correction wave. By the current day, it looks like a sliding plane. Its structure lacks the final part. The price is approaching the lower limit of the resistance zone of the scale W1. Forecast: In the coming day, the price of the pair expects to move with an upward vector. The boundaries of the price corridor are indicated by calculation zones. By the end of the day, the probability of a change in course and the beginning of a decline increases. Potential reversal zones Resistance: – 112.50/112.80 Support: – 111.60/111.30 Recommendations: Trade in Japanese yen today can be safe only within the framework of intraday, fractional lot. Until clear turn signals appear in the resistance area sales are not recommended. GBP/JPY Analysis: The main direction of movement of the pound/yen cross from last year is given by a bullish impulse. The unfinished trend section is counting down from September 21. The structure of this wave lacks the final ascending segment. Forecast: In the coming days, the probability of cross-country movement moving to the lateral plane is high, with a decrease to the design support zone. At the end of the day or tomorrow you can wait for an increase in volatility, Turn and start price growth. Zones of potential reversal Resistance: – 152.60 / 152.90 Support: – 151.80 / 151.50 Recommendations: Prior to the complete end of the upcoming rolled back Trade in the pair market may be unprofitable and not recommended . In the area of ​​computational support, it is proposed to track signals for the purchase of a pair. GOLD Analysis: Since August 9, gold quotes form a rising wave of day-scale graphics. The price rise that began on September 29 completed the middle part of the current wave (B). Throughout the last decade, the price moved in the side price corridor, preparing the ground for a further jump up. Forecast: A continuation of the “sideways” is expected today. A downward vector is more likely within the corridor boundaries in the morning. By the end of the day, a reversal and the beginning of price growth is expected, up to the resistance zone. Potential reversal zones Resistance: – 1765.0/1770.0 Support: – 1745.0/1740.0 Recommendations: Gold sales may be unprofitable in the coming days. The support area shows the safest area to buy the tool. ,,,,, 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: Wave algorithm not takes into account the length of tool movements over time! * The presented market analysis is informative and is not a guide to the transaction. Respectfully, Analyst InsaForex Vyacheslav Ognev © 2007-2021