Large TF:
The wave analysis of the daily scale of the last wave of the graph shows the ascending segment of the schedule of September 21 last year. The structure completed the first 2 parts (A + B). In the last part (C), the price forms the basis for the final push upwards.
Small TF:
The last wave is rising, from January 10th. Since the middle of last month, it has developed a correction that has reached the minimum possible level of elongation to date.
Forecast and recommendations:
The conditions for breaking up the prices are almost completely fulfilled. Given the presence of a reversal structure at the end of the current wave, it can be argued that the course of the pair will soon change. It is recommended to monitor signals to enter long positions.
Resistance zones:
- 1.0250 / 1.0300
- 1.0090 / 1.0140
Support areas:
- 0.9980 / 0.9930
Explanations to the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). At each of the considered scales of the graph, the last, 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, 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!
