empty
 
 
25.09.2018 12:43 AM
Simplified Wave Analysis. EUR/USD for the week of September 24

Wave pattern of the H4 chart:

The main direction of the trend since February this year moves the quotations of the euro major downwards. The price has reached a large-scale support zone.

Wave pattern of the H1 chart:

Since mid-August, the direction vector indicates an upward section. The first part of the wave zigzag of the older TF was formed. The price has reached the target zone.

This image is no longer relevant

Wave pattern of the M15 chart:

Since September 21, the price has moved down. A high wave level of decline allows you to wait for the continuation of the pair, up to the calculated zone.

This image is no longer relevant

Recommended trading strategy:

Sales are associated with a high degree of uncertainty. The risk can be justified only in the intraday trading style. Market participants are encouraged to wait for the completion of the entire downward wave and then look for buy signals.

Resistance zone:

- 1.1740/1.1790

Support zone:

- 1.1470/1.1420

Explanation of figures: the simplified wave analysis uses waves consisting of 3 parts (A-B-C). For analysis, 3 main TFs are used, the last unfinished wave is analyzed on each one. Zones show the calculated areas with the highest probability of a reversal.

Arrows indicate wave marking according to the method used by the author. With a solid background showing a structure for determining the expected movement.

Note: the wave algorithm does not take into account the duration of the tool movements over time. To conduct a trade, you need to confirm the signals of the trading systems you use!

Isabel Clark,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback