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Wave pattern on the H4 chart:

The last wave of this scale was completed in mid-August at the upper boundary of the powerful support zone.

Wave pattern on the H1 chart:

A rising wave from August 15 with high potential develops. Over time, the entire movement will move to a higher timeframe. In the wave structure, the middle part (B) is completed.

Exchange Rates 12.10.2018 analysis

Wave pattern on the M15 chart:

The ascending phase of October 4 gives a start to the final part (C) in the wave. In the coming days, a short rollback is expected.

Exchange Rates 12.10.2018 analysis

Recommended trading strategy:

Due to the small potential of the upcoming decline, sales are not recommended. In the area of fixation in the support, it is suggested to monitor the instrument purchase signals.

Resistance zones:

- 1.3550 / 1.3600

- 1.3250 / 1.3300

Support areas:

- 1.3080 / 1.3030

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (A-B-C). Three main timeframes are used for the analysis. The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a reversal.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Note: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Isabel Clark,
Analytical expert
InstaForex Group © 2007-2019
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