19.12.201808:50 Forex Analysis & Reviews: Simplified wave analysis EUR / CHF for December 19

Large-scale graphics:

The rising wave construction of September 7 has a rather high wave level. The model may give rise to a larger scale trend.

Medium scale graphics:

The descending part of the schedule of October 22 achieved its goals both in structure and in price levels. In the TFN4 wave, it took the place of the middle section (B).

Small-scale graphics:

The rise in the rate that began on December 11 has a turning potential. Before the final change of the short-term trend, you need to wait for a decline for a correction.

Forecast and recommendations:

Supporters of trade on large TF before opening long positions should wait for confirmation of a reversal. In the framework of intersessional trade, there is an opportunity to make short-term transactions according to the described algorithm.

Resistance zones:

- 1.1340 / 1.1390

Support areas:

- 1.1230 / 1.1180

Explanations for 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. 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.

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!