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06.03.201912:51 Forex Analysis & Reviews: Simplified Wave Analysis. Overview of EUR / CHF for the week of March 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 TF:

Since last fall, an upward wave model has evolved on the cross chart, which most resembles a correctional plane. The zigzag (A + B + C) is tracked in the wave structure.

Small TF:

From January 3, the cross price forms a bullish wave. The wave has a flat character. Last month, the quotes moved mostly sideways, forming a corrective phase of the movement. The wave structure looks complete.

Exchange Rates 06.03.2019 analysis

Forecast and recommendations:

In the coming week period, you can wait for the completion of the price calm and the beginning of the price growth. The ascending section of March 4 has a high potential and can give rise to a reversal pattern. It is recommended to track buy signals.

Resistance zones:

- 1.1490 / 1.1540

Support areas:

- 1.1340 / 1.1290

Explanations for 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 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.

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 the trading systems you use!

Isabel Clark
Analytical expert of InstaForex
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