MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Simplified wave analysis of EUR / GBP for January 29

Large-scale graphics:

In the ascending wave of the cross, which began in mid-April last year, there were some structural changes. The descending section that began at the end of the year, instead of the intermediate adjustment of the last part (C), took the place of full correction of the whole wave (B).

6rEM1teVoEE48UCKRX5FUo_Mp5jZ8-jV_ABA3PbH

Medium scale graphics:

The direction of the short-term trend is set by the bearish wave of December 10th. The current wave level allows us to assign its scale to the TF H4.

ML5kuAXS6op1_SiSg606t7vazMZ_RkK6gQJpDDmC

Small-scale graphics:

A downward stretch of January 3 completes a larger wave model. The price is approaching the lower boundary of the powerful zone of support for the older TF, however, the reversal signals are still not observed.

Forecast and recommendations:

Based on the wave formation algorithm, the current decline will soon have to be replaced by the beginning of an upturn. No reversal signals on the chart have been observed so far, so it is recommended that traders refrain from trading deals until the wave pattern is cleared.

Resistance zones:

- 0.8930 / 0.8980

Support areas:

- 0.8630 / 0.8580

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