Large-scale graphics:
The wave structure of the franc major up to now is still rising, dated February 16 of last year. The first parts of the wave are completely formed, in the beginning of autumn the final segment started.
Medium scale graphics:
From September 21, a distinct upward zigzag is formed on the chart. The conditions for the final breakthrough are formed throughout the current month.
Small-scale graphics:
The rising wave that began on January 10 launched the final part (C) in a larger wave model. Given the co-ownership of structures of several TFs at a time, then it is worth waiting for the further increase in the wave level of this movement.
Forecast and recommendations:
On the chart of the instrument, the preparation is completed before a powerful price increase. As part of settlement support, it is recommended to track buy signals.
Resistance zones:
- 1.0030 / 1.0080
Support areas:
- 0.9910 / 0.9860
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