The morning report of the most important opportunities and expectations on the most important indicators, metals and major pairs such as EUR / USD – GBP / USD – USD / JPY.
We will talk in detail about our expectations for the day according to the wave analysis over a period of half an hour.
- On the chart we see the beginning of a five-wave reversal before reaching the top of 1535.
- Stability of the 1528.32 high supports the decline to lower levels to break the 1480 low.
The dollar index USDINDX
- If the dollar is below the 98 high on the chart, the index is moving downwards.
- But when this summit is broken, the rally will continue.
- Currently the dollar is on the rise to test the 98 high.
- If the summit is repeated, we will see higher levels, unless there is a reversal before the summit.
Australian dollar / US dollar AUDUSD
- The stability of the recent bottom 0.6736 indicates the upward movement in the coming period on the pair.
- A break of the 0.6736 low will take place to test the 0.6675 low.
- A break below 0.6675 may continue to lower levels.
EUR / USD
- We expect the pair to fall to test the 1.1026 low, and if the bottom breaks it will continue to lower levels.
- It is expected to reach 1.07000.
- However, the downside depends on the breach of the 1.1026 low in the coming period.
- In case of reversal before breaking the bottom, a correction may occur on the EUR / USD.
GBP / USD
- We expect the GBP to rise, as it is above 1.2072 low.
- If it remains on top of this bottom, it is bullish.
- However, if it reaches a lower level, it will see a drop to test the 1.2013 low.
- A break below 1.2013 will continue falling to break the 1.1900 low.
USD / JPY
We expect a steady upward move to bottom of 105, and the top of this bottom indicates a rise to levels up to 108.
- If the bottom of 105.63 is broken, a drop to test 105.05 will occur.
- If there is a reversal before breaking the bottom, there will be a rally.
- the bottom is hit, a drop to 104-103 levels may occur.
- Currently we are climbing to higher levels up to 108.
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