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Long-term review

Exchange Rates 07.01.2019 analysis

Wave counting analysis:

During the bidding on Friday, January 4, the pair EUR / USD ended with an increase of 5 basis points. Thus, the estimated wave 3 in s continues to be built with targets that are near the level of 127.2% and higher. The wave marking is not entirely unambiguous, the expected wave 2 in s has adopted a non-standard three wave form. Nevertheless, the minimum of wave 2 in s is now an important point of support for building the entire uptrend of the trend, originating from November 13 last year.

Sales targets:

1.1315 - 23.6% Fibonacci

1.1266 - 0.0% Fibonacci

Shopping goals:

1.1528 - 127.2% Fibonacci

1.1599 - 161.8% Fibonacci

General conclusions and trading recommendations:

The pair continues to build a wave and the entire portion of the trend, taking its beginning on November 13. Thus, now I recommend buying in small volumes (due to the ambiguous type of current wave marking) with targets located near the marks of 1.1528 and 1.1599, which corresponds to 127.2% and 161.8% Fibonacci. The correctional status of the current trend section leads to frequent corrections and rollbacks.

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

Performed by Chin Zhao,
Analytical expert
InstaForex Group © 2007-2019
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