empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

31.05.201815:45 Forex Analysis & Reviews: Overview of AUD / JPY for the week of May 31 on simplified wave analysis

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Wave picture of the chart D1:

An unfinished wave of cross-country scales of this scale is counting from September last year. The wave has reached its minimum design targets. At the same time, the proportions of the parts are not completely formed. There are no signals of an early change of direction, which allows one to expect the continuation of the current wave.

The wave pattern of the graph H1:

Towards the main direction of the trend since March 23, the chart has formed an ascending correction plane. The wave formed a price corridor in 3 price figures.

Exchange Rates 31.05.2018 analysis

The wave pattern of the M15 chart:

The last, an unfinished wave plot for the bear market, started on May 22. Within the limits of the wave, the last few weeks have acquired the appearance of a wrong kind of correction. The nearest trading sessions are expected to be completed.

Recommended trading strategy:

For trading on time frames from H1 and higher trading signals are not formed. The short-term sales are possible for inter-day trading and intraday.

Resistance zones:

- 83.00 / 83.50

Support zones:

- 81.20 / 80.70

Explanations to the figures: Simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). At each TF the last incomplete wave is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the wave counting according to the technique used by the author. The solid background shows the generated structure, dotted - the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need confirmation signals from your trading systems!

Isabel Clark
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off