Large-scale graphics:
The general vector of the price movement of the pair from February of the current year is directed upwards. The last wave of the scale H4 forms the final part of the ascending model.
Medium scale graphics:
From November 13, the price forms a downward wave. Its structure to the current moment looks dead. In the wake of the older TF, it became a correction.
Small-scale graphics:
The bullish wave of December 11 does not yet have a turning potential, but maybe the beginning of a turning structure.
Forecast and recommendations:
This week, the most likely scenario for a pair to move will be a flat in the corridor between the opposite zones. Before shopping, it is recommended to wait for the confirming signals of the vehicles used.
Resistance zones:
- 1.0000 / 1.0050
Support areas:
- 0.9870 / 0.9820
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