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27.10.2021 09:45 AM
Simplified wave analysis and forecast for GBP/USD, AUD/USD, USD/CHF, USD/CAD on October 27

GBP/USD

Analysis:

The quotes of the major of the British pound are still heading upwards. The unfinished section has been counting since September 29. In the last decade, the price of the pair has been adjusted in the horizontal plane.

Forecast:

The general flat mood is expected to continue the next day. A downward vector is more likely in the European session. By the end of the day, a reversal and a change in rate can be expected in the area of the support zone. The calculated resistance shows the upper limit of the expected daily course.

Potential reversal zones

Resistance:

- 1.3810/1.3840

Support:

- 1.3730/1.3700

Recommendations:

Selling on the pound market today can be risky. It is recommended to refrain from entering the market until the purchase signals appear in the support zone area.

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AUD/USD

Analysis:

Since March of this year, the Australian dollar quotes have been moving up the corresponding momentum. The bullish zigzag that began on August 20 gave rise to a new wave at the main rate. The price is approaching the lower boundary of a strong potential reversal zone.

Forecast:

In the upcoming trading sessions, the price is expected to move mainly in the lateral plane. After the pressure on the support zone at the end of the day, a reversal and repeated growth in the area of the resistance zone is expected.

Potential reversal zones

Resistance:

- 0.7550/0.7580

Support:

- 0.7480/0.7450

Recommendations:

In an upward trend, selling on the Australian dollar market is risky and not recommended. It is proposed to pay attention to the search for reversal signals in the support zone for the purchase of the instrument.

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USD/CHF

Analysis:

A complex downward wave has been forming on the chart of the Swiss franc major pair since June. By now, it has the form of a shifting plane. Quotes are approaching the upper limit of the strong support zone of the senior TF.

Forecast:

Today, the price is expected to move in a side corridor between the nearest oncoming zones. After an attempt to put pressure on the resistance zone in the upcoming session, you can expect a reversal and a decrease in the price to the support area.

Potential reversal zones

Resistance:

- 0.9220/0.9250

Support:

- 0.9150/0.9120

Recommendations:

Trading on the franc market today is possible only within the intraday with a reduced lot. Purchases are risky. The optimal place of sale is the boundaries of the calculated resistance.

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USD/CAD

Analysis:

The direction of the trend movement of the chart of the main pair of the Canadian dollar is set by the downward wave from July 19. As part of the final part (C), an intermediate rollback is formed in the last 2 weeks.

Forecast:

On the next day, the upward movement of the price is expected to complete, a reversal and a return to the bearish rate. The lower limit of the expected daily course is shown by the calculated support.

Potential reversal zones

Resistance:

- 1.2390/1.2420

Support:

- 1.2330/1.2300

Recommendations:

There are no conditions for purchases on the Canadian dollar market today. It is recommended to track signals for the sale of the instrument in the area of the calculated resistance.

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Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure, and the dotted one shows the expected movements.

Attention: The wave algorithm does not take into account the duration of the movements of the instrument in time!

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