Large-scale graph:
The direction of the long-term trend from February shows the rising wave design. After the first parts (A-B) have been formed, the final part (C) has been developing in recent months.
Medium-scale graph:
The bullish wave of September 21 is in the process of working out a correction. Next, it is expected to turn and the beginning of the formation of the final phase of the movement.
Small-scale graph:
The bearish section of the schedule from November 13 is nearing completion. The price has reached the upper limit of the calculated target zone.
Forecast and recommendations:
The price reduction of the pair was temporary. Within the calculated reversal zone, it is recommended to track the reversal signals to enter long positions.
Resistance zones:
- 1.0000 / 1.0050
Support areas:
- 0.9870 / 0.9820
Explanations of the figures:
The simplified wave analysis uses waves consisting of 3 parts (A-B-C). For the analysis, three main TFs are used. On every last part, the incomplete wave is analyzed. 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 while the dotted shows 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!
