By the end of last year, analysis of the wave pattern of the weekly scale shows the completion of the downward wave, which has become a correction (B) in a more global model, and the beginning of the final part (C).
The bullish wave from January 3 is developing an impulse type. The first 2 parts are fully completed in the structure. Meanwhile, on March 8, the final stage started. The lower limit of the nearest potential reversal zone is in the 2 price figures above the current rate.
Forecast and recommendations:
Before the continuation of the price growth next week, a rollback is expected, which is most likely in the form of side flat. Supporters of the inter-day trading style in the support area are advised to track signals to enter cross-market purchases, or to strengthen them.
- 128.10 / 128.60
- 125.90 / 125.40
Explanations to the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). On each of the considered scales of the graph, the last, incomplete wave is analyzed. Zones show the calculated areas with the highest probability of reversal. The arrows, on the other hand, indicate the wave marking according to 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 your trading systems!
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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