Large-scale graphics:
The ascending wave plane from April 17 is nearing completion. In the movement structure, all 3 parts (A – B – C) are clearly traced.
Medium scale graphics:
The last wave of the hourly scale of November 13 completes the larger model. The lower limit of the large-scale potential reversal zone has been reached.
Small-scale graphics:
The bullish segment of the schedule from November 28 completes the ascending wave zigzag of the watch TF. Signal reversal on the chart is not observed.
Forecast and recommendations:
In the upcoming weekly period, there is a high probability of a change in the direction of the short-term trend. It is recommended to track reversal signals for entering short trades within the current resistance zone.
Resistance zones:
- 0.9030 / 0.9080
Support areas:
- 0.8870 / 0.8820
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