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18.03.201917:08 Forex Analysis & Reviews: Simplified Wave Analysis. Overview of EUR / USD for the week of March 18

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:

Throughout last year, the general vector of the euro price movement was directed downwards. From mid-November, the price moved to the "side", forming a corrective zigzag.

Small TF:

The upward movement of March 7 in a larger scale wave gave rise to the final part (C). The price rise has a pronounced impulse character, with intermediate recoils in the form of a flat.

Exchange Rates 18.03.2019 analysis

Forecast and recommendations:

A short-term euro pullback is possible in the coming days, after which the price rise of the major pair will continue. For the inter-day trading style, the purchase of a pair is a priority, it is more reasonable to ignore oncoming traffic.

Resistance zones:

- 1.1500 / 1.1550

- 1.1390 / 1.1440

Support areas:

- 1.1300 / 1.1250

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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