Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and US Dollar Index —

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GBP/USD

Brief Analysis:

At the end of June, a trend reversal occurred on the chart of the British pound. The upward trend was replaced by a corrective bearish wave. After reaching the upper boundary of a strong support zone, quotations entered a sideways drift. Once it is fully completed, the price rise will continue.

Weekly Forecast:

During the coming week, the pound is expected to continue moving sideways between nearby opposing zones. After possible pressure on the support zone early in the week, a bullish trend is the most likely scenario. The rise is expected to end near the calculated resistance zone.

Potential Reversal Zones Resistance:

• 1.3520 / 1.3570

Support:

• 1.3240 / 1.3190

Recommendations:

• Sales: No potential, risky.
• Purchases: Premature until the current decline ends and corresponding buy signals appear near support according to your trading system (TS).

AUD/USD

Brief Analysis:

In the short term, the direction of the Australian dollar major pair has been determined by an uptrend since April 4. Over the past month, a counter-correction has been forming. Its structure does not yet appear complete. The price is approaching the upper boundary of a strong potential reversal zone on the weekly timeframe.

Weekly Forecast:

During the week, price movement is expected within a corridor between opposing zones. After a possible attempt to test the support zone, a reversal and change of direction can be expected. The resistance zone represents the likely upper limit of the week's price movement.

Potential Reversal Zones Resistance:

• 0.6540 / 0.6590

Support:

• 0.6440 / 0.6390

Recommendations:

• Sales: Low potential, may result in losses.
• Purchases: Possible after confirmed reversal signals appear near the support zone according to your trading system.

USD/CHF

Brief Analysis:

Since early April of this year, the Swiss franc's price trend has been directed by an upward wave forming as a "shifting plane." The wave's structure is gradually approaching the active growth phase of its final segment (C). The price is moving along the level of a potential daily reversal zone.

Weekly Forecast:

At the start of the week, continued sideways movement is expected along the boundaries of the calculated resistance zone. Closer to the weekend, conditions for renewed price decline may form. The support level represents the lower boundary of the expected weekly range.

Potential Reversal Zones Resistance:

• 0.8090 / 0.8140

Support:

• 0.7860 / 0.7810

Recommendations:

• Purchases: Possible with small volume sizes during individual trading sessions.
• Sales: Relevant after reversal signals appear near the resistance zone.

EUR/JPY

Brief Analysis:

Since February, price movement in the EUR/JPY pair has been driven by an upward wave. Analysis of the structure indicates an internal correction forming within the final segment (C). In recent days, quotations have been retreating from the levels of strong resistance on the higher timeframe.

Weekly Forecast:

During the first days of the week, a sideways trend ("flat") is the most probable scenario. A short-term decline toward the support zone is possible, followed by renewed price growth closer to the weekend. Increased volatility and trend reversal could coincide with the release of key economic data.

Potential Reversal Zones Resistance:

• 177.80 / 178.30

Support:

• 174.00 / 174.50

Recommendations:

• Sales: Limited potential; high risk.
• Purchases: May be used for trading after confirmed reversal signals appear.

AUD/JPY

Analysis:

Globally, the AUD/JPY pair has been moving "north" on the price chart. Since August 5, quotations have been forming a counter corrective "expanded flat." This structure remains incomplete. Since last Thursday, quotations have been declining from the boundary of a strong potential reversal zone.

Forecast:

In the coming days, a downward trend is highly probable. Near the support zone, a decline completion and reversal formation are expected. Toward the end of the week, a reversal and the beginning of an upward move are likely. The resistance boundary represents the probable upper limit of the pair's weekly range.

Potential Reversal Zones Resistance:

• 100.50 / 101.00

Support:

• 97.10 / 96.60

Recommendations:

• Sales: Possible with small intraday volumes.
• Purchases: Become relevant after reversal signals appear near support.

US Dollar Index

Brief Analysis:

Since August, the short-term trend of the US Dollar Index has been directed "south." The unfinished section of the wave is corrective. Prices are mostly moving sideways, approaching the upper boundary of a strong potential reversal zone on the weekly timeframe.

Weekly Forecast:

In the coming days, the index is expected to continue moving sideways with a downward bias. A breakout below the calculated support boundary is unlikely. A reversal and resumption of upward movement are probable toward the weekend. The resistance zone marks the expected upper boundary of the week's movement.

Potential Reversal Zones Resistance:

• 98.00 / 98.20

Support:

• 96.90 / 96.70

Recommendations: The strengthening of national currencies in major pairs will allow for short-term buying opportunities in the coming days. Renewed strengthening of the US dollar—and corresponding sales of national currencies—can be considered after reversal signals appear near the support zone.

Notes: In Simplified Wave Analysis (SWA), all waves consist of three parts (A–B–C). On each timeframe, the analysis focuses on the last, incomplete wave. Dotted lines represent expected movements.

Attention: The wave algorithm does not take into account the time duration of price movements.

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