empty
31.03.2021 09:21 AM
Simple wave analysis and forecast for GBP/USD, USD/JPY, USD/CHF for March 31, 2021

GBP/USD

Analysis:

According to the chart, a downward correction as of February 24 sets the direction of the short-term trend. The calculated support zone is located at the upper border of the price zone.

Forecast:

In the first half of the day, the upward trend is highly likely. By the end of the trading session, volatility is expected to increase, the trend is likely to reverse, and the price may go down to the support zone.

Potential reversal zones

Resistance:

- 1.3760/1.3790

Support:

- 1.3670/1.3640

Recommendations:

Today, you can trade GBP/USD intraday with smaller lot sizes. When the first reversal signal appears, you should close your long positions. Priority is given to short positions on GBP/USD.

This image is no longer relevant

USD/JPY

Analysis:

The upward wave that started at the beginning of the year determines the trend on USD/JPY. The formation of Wave C is almost completed. The quote is within a strong reversal zone and is approaching its upper border. There have been no reversal signals so far.

Forecast:

The price is likely to move in the sideways corridor during the trading session. At the end of the session, the pair is expected to break through the resistance zone.

Potential reversal zones

Resistance:

- 110.80/111.10

Support:

- 110.20/109.90

Recommendations:

You should avoid selling USD/JPY until a clear reversal signal occurs. Also, you should refrain from trading at the time of a pullback. You can look for points to enter long positions at the end of the pullback.

This image is no longer relevant

USD/CHF

Analysis:

The upward wave as of January 6 sets the trend on USD/CHF. Its wave level has not yet gone beyond the last section of the global bearish trend. The price has reached an intermediate resistance level. A pullback is likely.

Forecast:

Today, the pair is expected to move down in the sideways range. The borders of the daily range indicate the calculated zones. By the end of the day, or tomorrow, volatility is likely to increase and the main trend will resume.

Potential reversal zones

Resistance:

- 0.9440/0.9470

Support:

- 0.9380/0.9350

Recommendations:

You should not sell USD/CHF due to the bearish trend. You should refrain from trading during a pullback and look for buy signals when it ends.

This image is no longer relevant

Note: In simple wave analysis, we review a three-wave pattern labeled A-B-C and analyze the last unfinished wave. Straight arrows show the formed wave structure, while dashed lines show the expected movements.

Warning: The wave pattern does not take into account the duration of the instrument's movements in time!

Isabel Clark,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on April 22, 2025

The wave pattern on the GBP/USD chart has also transformed into a bullish, impulsive structure — all "thanks" to Donald Trump. The wave pattern is nearly identical to that

Chin Zhao 20:05 2025-04-22 UTC+2

EUR/USD Analysis on April 21, 2025

The wave structure on the 4-hour chart for EUR/USD has transformed into a bullish formation. I believe there's little doubt that this transformation occurred solely due to the new U.S

Chin Zhao 19:46 2025-04-21 UTC+2

GBP/USD Analysis on April 21, 2025

The wave structure for GBP/USD has also transformed into a bullish, impulsive formation—"thanks" to Donald Trump. The wave picture is nearly identical to that of EUR/USD. Up until February

Chin Zhao 19:44 2025-04-21 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and the US Dollar Index — April 21st

GBP/USD Analysis: Since the beginning of this year, GBP/USD has been forming an upward wave on the daily chart. The pair has now reached the boundaries of a wide potential

Isabel Clark 09:31 2025-04-21 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold – April 21st

Analysis:Since February, EUR/USD has been forming an upward wave, with the final part (C) currently in progress. Recently, the pair pushed through the lower boundary of a strong potential reversal

Isabel Clark 09:25 2025-04-21 UTC+2

EUR/USD Analysis on April 17, 2025

The wave structure on the 4-hour EUR/USD chart has shifted into a bullish impulse formation. I believe there's no doubt this transformation occurred solely due to the new U.S. trade

Chin Zhao 19:12 2025-04-17 UTC+2

GBP/USD Analysis on April 17, 2025

The GBP/USD pair remained unchanged on Thursday. While such market behavior might have been expected for Thursday, it was surprising not to see a decline on Wednesday, given the number

Chin Zhao 19:09 2025-04-17 UTC+2

Analysis for EUR/USD on April 16, 2025

The wave structure on the 4-hour chart for the EUR/USD pair has shifted into a bullish formation. I think there's little doubt that this transformation was caused solely

Chin Zhao 18:56 2025-04-16 UTC+2

Analysis for GBP/USD on April 16, 2025

The wave structure of the GBP/USD pair has also transformed into a bullish, impulsive formation — "thanks" to Donald Trump. The wave pattern is almost identical to that of EUR/USD

Chin Zhao 18:53 2025-04-16 UTC+2

Analysis for EUR/USD on April 15, 2025

The wave structure on the 4-hour chart for EUR/USD has shifted into a bullish formation. I believe there's little doubt that this transformation is entirely due to the new U.S

Chin Zhao 19:03 2025-04-15 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.