EUR/USD

Analysis:

In the short term, the direction of the euro's price movement in the major currency pair is determined by the downward wave that began on August 20. This wave is completing a corrective wave structure of a larger degree. Over the past month, the pair's quotes have formed the countertrend segment of the current wave pattern, remaining within the boundaries of a correction. Price is moving along the boundaries of a potential reversal zone on the daily timeframe.

Forecast:

At the beginning of the upcoming week, the euro is expected to continue moving sideways along the support zone. A reversal and the beginning of an upward price move may be expected in the second half of the week. The release of important economic news could provide a timing reference.

Potential Reversal Zones

Resistance:

• 1.1360/1.1410

Support:

• 1.1190/1.1140

Recommendations:

Buying: Buying will become preferable once appropriate reversal signals appear near the support zone.

Selling: There are currently no conditions for selling trades.

USD/JPY

Analysis:

In the short term, an upward wave is developing on the chart of the Japanese yen's major currency pair. The wave is forming as one of the possible variations of an expanded or running flat. Its downward segment, which remains incomplete at the time of analysis, is correcting the beginning of the final part (C). Price is within an area where potential reversal zones of different degrees converge. No signals of an imminent trend reversal are visible on the chart.

Forecast:

Over the first few days of the upcoming week, the price is expected to continue moving downward until it reaches the calculated support zone. A sideways movement is likely to follow. The probability of a reversal and the beginning of a rise in the pair's exchange rate will then increase. The calculated resistance zone indicates the most likely upper boundary of the pair's weekly trading range.

Potential Reversal Zones

Resistance:

• 159.70/160.20

Support:

• 156.20/155.70

Recommendations:

Buying: Buying opportunities will emerge once confirmed reversal signals appear in the reversal zone on the trading systems being used.

Selling: Sell trades are risky and have limited potential.

GBP/JPY

Analysis:

The upward running flat that has dominated the GBP/JPY pair chart since early August has driven the price toward a strong resistance zone on the weekly timeframe. The structure of the middle section (B) does not appear to be complete. Price is moving within an area where potential reversal zones of different degrees converge.

Forecast:

Sideways price movement with a downward bias is expected during the first half of the upcoming week. The decline is expected to remain within the support zone. Subsequently, activity is likely to increase, and the pair may begin rising toward the calculated resistance levels. The start of this move may coincide with the release of important economic data.

Potential Reversal Zones

Resistance:

• 212.50/213.00

Support:

• 209.00/208.50

Recommendations:

Selling: Sell trades have limited potential and may be risky. Reducing position size is advisable.

Buying: Buy trades will become relevant once reversal signals appear near the support zone on the trading systems being used.

USD/CAD

Analysis:

An upward wave structure has been developing in the Canadian dollar market since August 21. The structure of its middle, corrective segment, which began on October 5, does not appear to be complete. Price is approaching the upper boundary of a potential reversal zone on a higher timeframe. No imminent reversal signals are visible on the chart at the time of analysis.

Forecast:

At the beginning of the upcoming week, sideways trading is expected, although a brief rise in the exchange rate is possible. Subsequently, the price is expected to enter another downward phase and move toward the support zone. A breakout beyond the range defined by the opposing zones during the week is unlikely.

Potential Reversal Zones

Resistance:

• 1.4070/1.4120

Support:

• 1.3910/1.3860

Recommendations:

Selling: Sell trades may be considered once appropriate signals appear on the trading systems being used near the reversal zone.

Buying: Purchases are risky due to their limited potential and could result in the loss of the trading account balance.

NZD/USD

Brief Analysis:

The downward wave in the NZD/USD major pair, which remains incomplete at the time of analysis, began on August 21. A countertrend correction in the form of an expanded flat has been developing within this wave since early October. At the time of analysis, the structure does not appear complete. Price is consolidating above a strong resistance level that has turned into support following the breakout.

Weekly Forecast:

At the beginning of the upcoming week, the pair is expected to continue moving sideways along the boundaries of the support zone. Subsequently, price fluctuations may develop into a sideways range. Volatility is likely to increase closer to the weekend, potentially leading to a reversal and the beginning of an upward price move. During the reversal, a brief break below the lower boundary of the calculated support zone cannot be ruled out.

Potential Reversal Zones

Resistance:

• 0.5790/0.5840

Support:

• 0.5670/0.5620

Recommendations:

Buying: Buying is premature until confirmed signals appear in the reversal zone.

Selling: Sell trades have limited potential and are risky.

Gold

Analysis:

The short-term downward trend that has dominated the gold chart since late August of this year has driven the price toward an area where resistance levels of different degrees converge. The structure of the trend wave does not appear to be complete. Price is approaching the upper boundary of a strong potential reversal zone on the daily timeframe.

Forecast:

At the beginning of the upcoming week, the instrument's price is expected to continue moving sideways along the calculated support zone. Closer to the weekend, a reversal may develop, followed by sideways price movement with a bullish bias.

Potential Reversal Zones

Resistance:

• 4140.0/4160.0

Support:

• 3990.0/3970.0

Recommendations:

Selling: Sell trades offer no potential.

Buying: Buying is premature until the current decline is complete and reversal signals appear.

Explanation: In Simplified Wave Analysis (SWA), all waves consist of three parts (A-B-C). The latest incomplete wave is analyzed on each timeframe. Expected price movements are shown with dashed lines.

Important: The wave algorithm does not take into account the duration of an instrument's price movements.