Simplified wave analysis of EUR / CHF for February 13

Large-scale graphics:

The current large-scale wave construction begins on September 10. It has the appearance of a standard plane. By the end of last year, the first parts (A + B) were completed

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Medium scale graphics:

The main vector of the short-term trend since February 13 is directed to the "north" of the chart. In a larger wave, this section became the final part (C).

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Small-scale graphics:

From January 30, the price forms a downward wave. For a time scale wave, the plot took the place of correction (B).

Forecast and recommendations:

The wave develops according to the algorithm, according to which the price will rise to the nearest resistance. In the coming days, the price will have a short pullback down, which can be used by supporters of intraday.

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). 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