Main Quotes Calendar Forum
flag

FX.co ★ Review of USD / CHF pair for the week of May 31 on simplified wave analysis

parent
Forex Analysis:::2018-05-31T10:37:12

Review of USD / CHF pair for the week of May 31 on simplified wave analysis

The wave pattern of the D1 graph:

On the daily scale of the Swiss currency major, the dominant wave is directed downward. In a larger model, this section of the graph closes the correction part (B). The subsequent counter-rising movement has the potential for a reversal.

Review of USD / CHF pair for the week of May 31 on simplified wave analysis

The wave pattern of the H1 graph:

In the bullish wave of February 16, the price was adjusted for the whole last month. The wave is not complete. By now it has reached the smallest possible size, but the structure has not yet completely formed.

Review of USD / CHF pair for the week of May 31 on simplified wave analysis

The wave pattern of the M15 chart:

In the framework of the main downward wave, a counter-roll began to form from May 29. In the coming days, its completion is expected.

Recommended trading strategy:

When trading large sections of the schedule, traders need to wait for the completion of the entire bearish correction. With inter-dynamic trade style from the resistance zone, short-term sales are possible.

Resistance zones:

- 0.9930 / 0.9980

Support zones:

- 0.9770 / 0.9720

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...