15.10.2021 10:32 Forex Analysis Reviews: Simplified Wave Analysis and Forecast EUR/USD, USD/JPY, GBP/JPY, GOLD for October 15

Traders Forex Reviews Wave Analysis

15.10.202110: 32 Analytical Forex Reviews: Simplified Wave Analysis and Forecast EUR / USD, USD / JPY, GBP / JPY, GOLD on October 15,

Relevance up to 10:00 2021-10-16 UTC +2 EUR / USD Analysis: On the chart of European currency since the beginning of the summer, a downward wave zigzag is formed. The structure of the wave looks complete. The signals for changing the course on the chart is not observed. The counter wave design of September 30 does not go beyond the correction of the last part of the wave. Forecast: The total upward motion vector is expected to continue in the coming day. At the next session, a side fleet along the support area is more likely. The growth of the course can be expected at the end of the day or tomorrow. Potential reversal zones Resistance: – 1.1660/1.1690 Support: – 1.1590/1.1560 Recommendations: Purchases in the euro market today are possible only within the framework of intraday in a fractional lot. It is optimal to refrain from entering the pair market before the completion of the current price growth and at its end enter sales. USD/JPY Analysis: The trend direction of the Japanese yen in its main pair since the beginning of the year is given by an upward wave. In turn, this price movement completes the upward wave construction of the larger TF. The price reached the boundaries of a strong potentially reversal zone. No reversal signals have yet been observed on the graph. Forecast: The transition of price movements is expected at the upcoming sessions to the side plane. The expected price corridor boundaries are indicated by calculation zones. Potential reversal zones Resistance: – 114.20/114.50 Support: – 113.60/113.30 Recommendations: The potential for purchases of this pair is exhausted. No conditions have yet been created for sales. It is recommended to refrain from entering the pair market to more favorable conditions for trade. GBP/JPY Analysis: Ascending wave beginning on July 19 zigzag on the pound/yen cross-country chart entered the final phase. The price has reached the lower limit of the preliminary target zone. Within its borders passes several strong levels of resistance of a large scale. Forecast: Today, the general upward motion vector is expected to continue until its completion. At the next session, a side fleet with a descending vector is not excluded. Potential reversal zones Resistance: – 157.30/157.60 Support: – 156.30/156.00 Recommendations: There are no conditions for sales in the cross-country market today. It is recommended that at the end of all counter rollbacks, look for signals to buy a pair. It is worth considering the limited potential of the price rise. GOLD Analysis: From August 9, an upward wave zigzag with a high wave level is formed on the gold chart. As part of its final section, an interim rollback has been developing over the past three days. Forecast: On the nearest Downstream traffic is expected to be completed during trading sessions. By the end of the day, you can wait for the formation of a reversal and the resumption of the price rise. The expected daily travel limits are indicated by the calculation zones. Potential reversal zones Resistance: – 1805.0/1810.0 Support: – 1780.0/1775.0 Recommendations: Today, deals for sale on the gold market may be risky and not recommended. It is proposed to monitor turn signals in the area of ​ ​ design support for the purchase of 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: The wave algorithm does not take into account the duration of the tool’s movements over time! * The presented market analysis is informative and is not a guide to the transaction. Respectfully, Analyst InnaForex Vyacheslav Ognev © 2007-2021