Large TF:

Since the beginning of last year, the main motion vector has been looking at the "south" of the graph. Started at the beginning of this year, the rising wave will be a correction in the main wave model of the instrument.

Small TF:

In the structure of the bull wave, there is a clear sequence (A + B + C). On March 8, a price rise was completed, the potential of which is tentatively estimated at 5 price patterns. In its structure, a corrective pullback is formed.

Forecast and recommendations:

As seen on the chart, the pair is completing preparations for an intensive price increase. Until the end of this week, there is still a chance of decline, where traders will be able to make purchases on more favorable terms.

Resistance zones:

- 0.7380 / 0.7430

- 0.7190 / 0.7240

Support areas:

- 0.7070 / 0.7020

Explanations for the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). On each of the considered scales of the graph, the last, incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal. The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure, the dotted - the expected movement.

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