Simplified wave analysis and forecast for GBP/USD, USD/JPY, and USD/CHF on August 15

Trading 15 août 2019 Donner votre avis

GBP/USD

Fluctuations in the price of the British pound in recent weeks occur within the emerging bullish wave of July 30. The wave is correctional that develops in a lateral plane. In the last 3 days, quotes are clamped in a narrow corridor between the opposite zones.

Forecast:

Today, the flat mood of the pair will continue. At the next session, an upward movement mood is likely. Short-term puncture of the upper boundary of the resistance zone is not excluded. By the end of the day, the chance of a reversal and price decline will increase. Volatility can increase dramatically.

Recommendations:

When buying the pound today, you should lower the lot and be ready to close the deal at the first signs of a reversal. In the area of the resistance zone, it is recommended to monitor the signals of the instrument sale.

Resistance zone:

- 1.2110/1.2140

Support zone:

- 1.2040/1.2010

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USD/JPY

Since April, the current trend in the Japanese yen market has been dominated by its strengthening against the US currency. In the last 3 months, the bullish correction has been developing. On August 13, a new wave began to form in the direction of the main course. Since yesterday, the price is rolling back up.

Forecast:

During the current day, it is expected that the current price growth, the formation of a reversal and the pair moves down. The last phase can begin against the background of increased volatility and move forward in time the next day.

Recommendations:

Today, yen purchases are possible only within the framework of intra-session trade. It is safer to wait for the completion of the entire rollback up and to look for signals to sell the pair at its end.

Resistance zone:

- 106.60/106.90

Support zone:

- 105.90/105.60

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USD/CHF

On the chart of the Swiss franc, the current wave design is a bullish wave from June 25. It formed the first 2 parts (A+B). From August 6, conditions are being created for the beginnings of the final part (C). The preparatory wave has the wrong kind of structure. The price is within a strong support area of a large TF.

Forecast:

Today, a common flat mood of the pair is expected. In the morning, a downward vector is more likely. By the end of the day, a change of priorities in movement and a price increase to the borders of the resistance zone are expected.

Recommendations:

Trading in the flat today can carry an increased degree of risk, so you should only trade within the sessions with a reduced lot. Purchases look more preferable.

Resistance zone:

- 0.9780/0.9810

Support zone:

- 0.9710/0.9680

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Explanations to the figures: Waves in the simplified wave analysis consist of 3 parts (A-B-C). The last unfinished wave is analyzed. Zones show areas with the highest probability of reversal. The arrows indicate the wave marking according to the method used by the author, the solid background is the formed structure, the dotted ones are the expected movements.

Attention: The wave algorithm does not take into account the length of time the instrument moves.

The material has been provided by InstaForex Company - www.instaforex.com

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