12.02.2021 09:50 Forex analysis: Simplified wave analysis and forecast EUR/USD, AUD/USD, GBP/JPY as of February 12

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12.02.202109:50 Forex Analysis: Simplified Wave Analysis and Forecast EUR/USD, AUD/USD, GBP/JPY on February 12

Relevance to 08:00 2021-02-13 UTC/USDAnalysis:Under the prevailing upward trend of the pan-European currency chart, the correction has been expanding since the beginning of this year. A week ago, the withdrawal began to take shape in its structure. This move is nearing completion.Forecast:Over the next 24 hours sentiment is expected to rise, reverse and start of price declines will be completed. Increased activity may coincide with the release of important information blocks.Potential reversal areasResistance:- 1.2140/1.217010100 0 Support:- 1.2080/1.2050Recommendations:Euro trading today is only possible during the day reduced lot. By the end of the current wave of steam sales is premature and may be unprofitable. When shopping, you should take into account the limited potential for expected growth. AUD/USDAnalysis:The last section of the dominant upward trend of the main Australian currency began on December 21. In the structure of the wave from February 2, the beginning of the last part (C) develops. Quotations again hit the bottom edge of a strong resistance zone with a long time.Forecast:Further trading sessions are expected to slow price growth. Then it is worth waiting for the reversal to arise and the start of the price movement down. The lower limit of the probable daily pair range is the calculated service.Potential reversal areasResistance:- 0.7750/0.7780Support: 0.7750/0.7780Support:- 0.7670/0.7640Recommendations:Trading on the pairs market is only possible today in separate trading sessions, fractional lot. Purchases will only be possible after the upcoming rollback is complete. GBP/JPYAnalysis:the lower limit of the strong reversal zone. The downward stretch of the schedule on February 5 has the potential to reverse and could be the start of a bigger downward wave.Forecast:This morning we can wait for a second attempt to pressure the resistance zone. At the end of the day, the probability of a change in the exchange rate increases, and the beginning of the decrease increases.Potential reversal areasResistance:- 144.90/145.2010100 0 Support:- 144.00/143.70Recommendations:Cross-market trading is very risky today and not recommended. The potential for shopping is limited. The right conditions for selling steam on the market have not yet been created. Explanations: In simplified wave analysis (UVA), waves consist of 3 parts (A-B-S). Analyzed the last unfinished wave. The solid background of the shooter shows the formed structure, dotted – the expected movements.Note: The wave algorithm does not take into account the duration of the instrument’s movement over time! This market analysis is informative and is not a transaction guide.Estimate,Analyst: Vyacheslav OgnevgK InstaForex © 2007-2021