Large-scale graphics:
Since mid-April last year, the price of the cross forms a rising wave. The last wave of the scale H4 gave rise to the final segment (C).
Medium scale graphics:
From December 10, the price forms a flat wave in the form of an expanding triangle. In a larger wave, it takes the place of correction (B).
Small -scale graphics:
On January 3, launched a downward wave zigzag. The wave structure looks complete. The upper limit of the calculated target zone has been reached, but no turn signals are observed.
Forecast and recommendations:
In the upcoming weekly period, there is a high probability that the current flat will be completed and the movement vector will change. In the area of calculated support, it is recommended to track reversal signals in order to search for entry into long positions by the pair.
Resistance zones:
- 0.9030 / 0.9080
Support areas:
- 0.8870 / 0.8820
Explanations for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For analysis, 3 consecutive graphs are used. Each of them analyzes the last, incomplete wave. Zones show calculated areas with the highest probability of reversal. The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure, the dotted - the expected movement.
Attention: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!
The material has been provided by InstaForex Company -
www.instaforex.com