Simplified wave analysis of EUR / JPY pair for the week of November 30

Wave pattern on the H4 chart:

The rising wave construction of May 29th has completed the daily scale downward trend. A preliminary calculation allows us to expect a growth rate of at least 8 price figures.

Wave pattern on the H1 chart:

The descending wave of September 21 in the structure of the larger wave model took the place of the middle part (B). There is a high probability that the wave has already been completed but has not yet confirmed the reversal.

nF-N-y_V6kZf5S07wy25yurFmqg93MV-LgfjH-6-

Wave pattern on the M15 chart:

The rise in prices that began on October 26 may be the beginning of a new wave formation, as well as a continuation of the correction of the H4 model.

uIEDj5fCIpmgvuRVmMony_9k0GnA8ybOrVbxNgrX

Recommended trading strategy:

This week is expected to increase in price. The area of resistance is expected to reach the nearest settlement zone of resistance. Proponents of a short-term trading style can take advantage of this.

Resistance zones:

- 131.20 / 131.70

Support areas:

- 128.30 / 127.80

Explanations of the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. 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 while the dotted shows 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