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On the weekly timeframe of the Swiss franc chart, in its main pair against the dollar, the structure of the unfinished wave for today is traced. In the ascending zigzag, the first 2 parts (A; B) are formed. The bull section, which started in mid-February, gave rise to the final part (C) of the main trend. The nature of the beginning of the ascent is close to the impulse.
After the active growth phase of recent weeks, the price has reached the level of resistance on a large scale, which has formed around it a zone of the potential reversal. In the coming days, the probability of forming a corrective phase of movement is high. Given the nature of the current recovery, the preliminary sweep of the decline is estimated no further than the lower limit of the support zone. It is not excluded the variant of a horizontal flat, with the subsequent breakup, to the next target zone.
The boundaries of resistance zones:
- 1.0080 / 1.0130
- 0.9840 / 0.9890
The boundaries of support zones:
- 0.9670 / 0.9620
Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed.
The areas marked on the graphs are indicated by the calculation areas, where the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a trade transaction, you need to confirm the signals of your trading systems.
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