Large-scale graphics:
The wave defining the main vector to the short-term trend of the pair starts from April last year. The final part (C) is formed in the structure.
Medium scale graphics:
The rising wave construction from December 12 in a larger model corrects the last trend section. The wave structure is incomplete.
Small-scale graphics:
From January 17, the price forms a downward wave of small scale. It forms an intermediate correction before the final price increase.
Forecast and recommendations:
In the near weekly period, a short-term price increase is expected, which can be used by supporters of intraday. For longer trades, you need to wait for the current recovery to complete.
Resistance zones:
- 1.3180 / 1.3230
Support areas:
- 1.2770 / 1.2720
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 requires confirming signals of the trading systems you use!
