Large-scale graphics:
In the downward wave trend of the cross lasting from February, the last 4-hour wave formed a counter correction. At least 4 figures to the upper boundary of the calculated target zone.
Medium scale graphics:
From November 8, in the direction of the dominant course of the movement, a downward wave is formed. In its structure, a hidden correction was completed a week ago.
Small-scale graphics:
The downward wave of December 13 gave rise to the final part of the main trend. The formation of the middle part of the wave is expected, most likely in the form of lateral motion.
Forecast and recommendations:
Against the general background of the decline in trading activity in the upcoming week, the price of the pair is expected to be flat. After the correction phase, it is recommended to track the sale signals of the instrument.
Resistance zones:
- 142.50 / 143.00
Support areas:
- 140.80 / 140.30
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.
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!
