Large-scale graphics:
The decline, which began in April of last year, led the price of the pair to the upper border of the wide support zone. The incomplete wave structure allows waiting for the continuation of the current decline.
Medium scale graphics:
The last wave section in the direction of the main course started on November 7. From the upper limit of the wide support zone in the last month, a counter pullback is formed.
Small-scale graphics:
Rising wave from December 12 in the time wave corrects the first trend segment (A). The middle part of its structure formed a stretched plane.
Forecast and recommendations:
Lasts in recent weeks flat mood has every chance to continue. The most likely range of fluctuations remains the plot between the opposite zones. Trading in such conditions is risky.
Resistance zones:
- 1.2690 / 1.2740
Support areas:
- 1.2500 / 1.2450
Explanations for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). The analysis uses 3 consecutive scale graph. 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!
