Simplified wave analysis of the AUD/USD, USD/CHF and GBP/JPY on November 29

AUD / USD

Analysis:

On the chart of the Australian dollar, the unfinished wave design of the bearish, dated September 12, the last part of the wave started in late October. Within its framework, the last 2 weeks formed an intermediate correction, which lacks a final rise and the price is near the strong support.

Forecast:

Today is expected to be a “side”, mainly with an upward vector, and the calculated resistance limits the level of probable rise.

Potential U-Turn Zones

Resistance:

– 0.6820 / 0.6850

Support:

– 0.6760 / 0.6730

Recommendations:

Staying out of the Aussie market today will be the most sensible tactic. In the area of the resistance zone, it is recommended to track the reversal and the pair sell signals. Traders within the day can make short-term purchases with a reduced lot.

USD / CHF

Analysis:

On the Swiss franc chart, an upward wave structure has been developing since June, where the wave has a sufficiently large stroke potential and over time, this will allow us to move into the medium-term trend. Meanwhile, the price has reached its strong resistance.

Forecast:

On the following day, the price of the pair expects movement in the lateral plane. Before starting the decline, pressure on the resistance zone is possible, meanwhile, the support zone shows the most likely level of a rollback down.

Potential U-Turn Zones

Resistance:

– 0.9990 / 0.1020

Support:

– 0.9940 / 0.9910

Recommendations:

Today, only intraday trading is possible on the pair market. Focus on sales. In the support area, it is recommended to monitor the reversal signals to find the most profitable entry points to long positions.

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GBP / JPY

Analysis:

The main driving force of the cross in the short-term was the wave rising from August. The last section started on October 8th. Within its framework, over the past month, the price moved sideways, along the strong resistance. From November 22, the price forms an upward section with a reversal potential.

Forecast:

In the coming days, a lateral flat is likely, mainly with a downward vector. Before the start of the decline, pressure on the resistance zone is possible, with a short-term puncture of the upper boundary.

Potential U-Turn Zones

Resistance:

– 141.50 / 141.80

Support:

– 140.80 / 140.50

Recommendations:

Today it is possible to trade a pair as part of the session, however, it is still too early to shop. Meanwhile, when selling, it is recommended to lower the lot and close deals at the first sign of a reversal. In the area of the support zone you need to prepare for cross-country purchases.

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Explanations: In the simplified wave analysis (UVA), the waves consist of 3 parts (A, B and C). The last unfinished wave is analyzed. The solid background of the arrows shows the formed structure presented in dotted lines, which is the expected movement.

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

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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