empty
 
 
31.01.2018 09:47 AM
Trade review as of January 31st by simplified wave analysis

Overview and forecast for the currency pair USD / CHF

As a result of the active depreciation of the main pair of Swiss francs, the quotes have closely approached the upper boundary of a wide range of potential large-scale reversals. Analysis of the last wave on the daytime frame of the instrument shows the completeness of its structure. The proportions of the final part of the wave approach the standard dimensions. In the coming weeks, there is a sharp increase in the probability of changing the direction of the short-term trend, at least to correct the last part of the main trend.

In the next trading sessions, a downward movement is expected, with the prospect of reaching the upper boundary of settlement support. Then, you can count on a turn and a price rebound up.

Boundaries of the resistance zones:

- 0.9350 / 80

Boundaries of the support zones:

- 0.9270 / 40

This image is no longer relevant

Overview and forecast for the currency pair EUR / JPY

The direction of the price trend in the euro / yen cross-country market is set by the upward wave of April 17 last year. This trend completes a larger wave model, with a pronounced impulse character of motion.

The last site started on January 10. At the moment of analysis, the middle part of the bull zigzag (B) is completed in the wave structure. The price rise that began yesterday may be the beginning of a reversal construction.

In the morning, the flute mood is expected today. The price for the lower edge of the support zone is unlikely. By the end of the day, you can count on the beginning of the growth of quotations.

Boundaries of the resistance zones:

- 136.00 / 136.30

Boundaries of the support zones:

- 135.10 / 134.80

This image is no longer relevant

Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed.

The areas marked on the graphs are indicated by the calculation areas, where 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.

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 $1000 more!
    In April we raffle $1000 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