18.10.201710:03 Forex Analysis & Reviews: Trade review for October 18 by simplified wave analysis

Análisis a largo plazo

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Overview of USD / CHF with the current day forecast

The Swiss currency chart, in its main pair, has been dominated by the upward trend of the trend for the past two months. In the structure of the last wave, a distinct zigzag can be traced. The final phase of the movement (C) last week reached the lower limit of the potential reversal zone. At the same time, its size has reached the minimum required values, sufficient to complete the entire wave. But before the emergence of clear signals, the main trend remains ascending.

The descending section of the chart from October 6 may give rise to a larger counter-corrective wave. If this scenario is confirmed, a change in the direction of price movement will occur in the next trading session.

In the morning, an upward movement is expected, up to and including completion within the calculated resistance zone. Closer by the end of the day, the chance of a change in the exchange rate and the course of prices are sharply increasing.

The boundaries of the resistance zones:

- 0.9820 / 50

The boundaries of the support zones:

- 0.9740 / 10

Overview of NZD / USD with the current day forecast

The direction of price movement in the short term on this pair is set by the downward wave of July 27. By now, the structure of the wave looks completely formed. On all its parts, the minimum necessary proportions are traced.

The rising wave of October 10 completes a hidden corrective wave of the wrong kind. Its wave level is insufficient for the onset of a counter-propagating wave of a larger size.

The decline that began on October 13 has limited potential. The price is close to the calculated end. The next trading session is expected to form a reversal. A short puncture of the lower support boundary is not ruled out, but unlikely.

The change in the intersessional trend is expected in the second half of the day or tomorrow.

The boundaries of the resistance zones:

- 0.7200 / 0.7230

The boundaries of the support zones:

- 0.7130 / 0.7100

Explanations to the figures: For simplified wave analysis, a simple waveform is used that combines 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. On each considered time frame the last, incomplete wave is analyzed.

The areas marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a trade transaction, you need to confirm the signals of your trading systems.

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