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 for October 7. EUR / USD: calm on the market; AUD / USD: preparing to decline; GBP / JPY: time of

EUR/USD

Analysis:

On the euro chart, two upward models of different scales are formed right away and both have the wrong kind of structure. The bullish zigzag of September 3 is at the end of a larger wave of August 1. In the small model, the final part (C) reached intermediate resistance.

Forecast:

Before a further price breakthrough, a correctional phase is likely. Today, a "sideways" is expected between the nearest oncoming zones. At the next session, a short-term decline of the pair is possible.

Potential reversal zones

Resistance:

- 1.1000 / 1.1030

Support:

- 1.0940 / 1.0910

Recommendations:

Today, the most promising tactics of trade will be the purchase of the euro in the lower boundary of the price range. Selling a pair makes sense only within the trading session, tracking all the oncoming signals.

analytics5d9ade0fbbab8.jpg

AUD/USD

Analysis:

The AUD chart is dominated by a bearish trend. Its last direction started on September 12. In its framework, a hidden correction has been formed since the end of September. The structure looks complete. The final section (C) reached the lower boundary of the calculation zone. There are no reversal signals on the chart.

Forecast:

There is a high probability of completion of the current correction in the framework of the calculated resistance. Today, a second attempt to pressure this zone is expected. By the end of the day, the chance of a reversal and the beginning of a decline increases.

Potential reversal zones

Resistance:

- 0.6780 / 0.6810

Support:

- 0.6720 / 0.6690

Recommendations:

When buying a pair today, the limited upside potential should be taken into account. In the resistance area, it is recommended to focus on the search for pivot signals and points of sale of the instrument.

analytics5d9ade25ba494.jpg

GBP/JPY

Analysis:

On the cross-instrument chart, the price has been decreasing over the past month, forming a correction of the previous bullish section. Its internal structure looks complete. The price is approaching the upper zone of a wide zone of potential reversal of a large TF. There are no signals of course change.

Forecast:

In the coming sessions, a general flat mood is expected. In the morning, the price will continue to decline. By the end of the day, the probability of a reversal and the beginning of a price increase increases.

Potential reversal zones

Resistance:

- 132.00 / 132.30

Support:

- 131.20 / 130.90

Recommendations:

Prior to the appearance of clear reversal signals, cross-instrument sales are a priority. Due to the small size of the expected downward movement, the lot should be reduced. In the area of the support zone, it is recommended to monitor pivot signals to search for entry points to a long position.

analytics5d9ade3f1b659.jpg

Explanations: In a simplified wave analysis (UVA), the waves are composed of 3 parts (A-B-C). The last unfinished wave is analyzed, while the solid background of the arrows shows the formed structure, dotted - the expected movement.

Attention: The wave algorithm does not take into account the length of time the instrument moves in time!

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