Simplified Wave Analysis. Overview of EUR / CHF for October 31

Wave pattern graphics H4:

The last wave of this TF has completed the descending segment of the daily trend.

Wave pattern graphics H1:

The upward segment of the chart, which began on September 7, has a reversal potential. Over time, this movement will move to a higher wave level.

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Wave pattern graphics M15:

Since October 11, the bear wave is forming on the graph. The potential for its decline is small. In a larger wave, it takes the place of correction (B).

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Recommended trading strategy:

Due to the small expected scope of price reduction, sales are not very promising. In the area of calculated support, it is proposed to track reversal signals to search for signals to buy a cross.

Resistance zones:

- 1.1490 / 1.1540

Support areas:

- 1.1350 / 1.1300

Explanations for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, 3 main TFs are used, on each, the last, 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, 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