Large-scale graphics:
In the structure of the rising wave dominating from last year, the first 2 parts (A + B) are fully formed.
Medium scale graphics:
Despite the fact that the current wave level of the bull wave from January 3 corresponds to H1, the potential of this movement is much greater. A preliminary calculation allows you to wait for the growth rate to 5 price figures.
Small-scale graphics:
The bullish wave of January 31 is at the end of a larger upward model. The nature of the upcoming climb is expected to be close to impulse.
Forecast and recommendations:
Sales in the coming months will be unpromising. At the ends of any counter kickbacks, it is recommended to track buy signals. The large expected recovery potential allows traders to take part in trade for longer time trades.
Resistance zones:
- 111.00 / 111.50
Support areas:
- 109.50 / 109.00
Explanations for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). The analysis uses 3 consecutive scale graph. 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.
Note: 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