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15.03.201910:56 Forex Analysis & Reviews: Simplified Wave Analysis. EUR / JPY review for the week of March 15

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:

By the end of last year, analysis of the wave pattern of the weekly scale shows the completion of the downward wave, which has become a correction (B) in a more global model, and the beginning of the final part (C).

Small TF:

The bullish wave from January 3 is developing an impulse type. The first 2 parts are fully completed in the structure. Meanwhile, on March 8, the final stage started. The lower limit of the nearest potential reversal zone is in the 2 price figures above the current rate.

Exchange Rates 15.03.2019 analysis

Forecast and recommendations:

Before the continuation of the price growth next week, a rollback is expected, which is most likely in the form of side flat. Supporters of the inter-day trading style in the support area are advised to track signals to enter cross-market purchases, or to strengthen them.

Resistance zones:

- 128.10 / 128.60

Support areas:

- 125.90 / 125.40

Explanations to 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 the calculated areas with the highest probability of reversal. The arrows, on the other hand, indicate the wave marking according to 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 your trading systems!

Isabel Clark
Analytical expert of InstaForex
© 2007-2024

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