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

06.12.201811:21 Forex Analysis & Reviews: Simplified wave analysis of GBP / JPY for the week of December 6

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.

Large scale graphics:

Since February of this year, the wave of the main trend is moving down. However, the recoil less potential of the movement has been exhausted. From powerful support towards the opposite structure is formed, there's at least a correction.

Exchange Rates 06.12.2018 analysis

Medium scale graphics:

A month ago, the bear wave started actively. The high wave level of this movement indicates a high probability of the beginning of a new section of the main trend. In recent weeks, a flat correction is developing along the upper border of the powerful support level.

Exchange Rates 06.12.2018 analysis

Small scale graphics:

The rising wave from November 15 develops in the form of a shifting plane. The structure lacks the final part (C).

Forecast and recommendations:

Shopping can be quite risky. The probability of a change in the direction of the short-term trend in the coming weeks is high. It is recommended to track signals selling cross.

Resistance zones:

- 145.80 / 146.30

Support areas:

- 143.70 / 143.20

Explanations to 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. While the arrows indicate the wave marking by the method used by the author. Lastly, 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, you need confirmation signals from the trading systems you use.

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