Simplified Wave Analysis EUR / CHF for the week of December 5

Large-scale graphics:

The main trend direction in the current year is directed to the "south" of the chart, but below the price is supported by strong support. From this zone since September, the oncoming wave of the H4 level is formed.

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Medium scale graphics:

The downward wave from October 22 is in the process of forming an intermediate pullback. The wave in the larger model takes the place of the middle part (B).

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Small-scale graphics:

On November 30, a new short-term wave started. A preliminary calculation allows you to wait for its completion in the area of calculated support.

Forecast and recommendations:

The conditions for changing the short-term price trend are being prepared on the chart. Supporters of intersessional trading can make short-term sales of the pair. Signals of entry into long trades should be monitored in the area of support.

Resistance zones:

- 1.1340 / 1.1390

Support areas:

- 1.1230 / 1.1180

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 requires confirming signals of the trading systems you use!

The material has been provided by InstaForex Company - www.instaforex.com