empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

08.03.201915:11 Forex Analysis & Reviews: Simplified Wave Analysis. Overview of EUR / JPY for the week of March 8

Long-term review

Large TF:

From mid-2016, price fluctuations of the pair are determined by the rising wave algorithm. The upward movement of the cross, which started at the beginning of the current year, completed the correctional phase of the trend wave, starting the next stage.

Small TF:

The bullish wave of January 3 develops as an impulse. Over the past week, the price of the pair has decreased, completing the hidden correction formed in February. The price has reached strong support, but the reversal signals on the chart have not yet been observed.

Exchange Rates 08.03.2019 analysis

Forecast and recommendations:

The potential reduction of the pair is close to exhaustion. This week, within the framework of settlement support, a reversal and the beginning of a price rise are expected. Traders are advised to track the buy signals of the instrument.

Resistance zones:

- 126.40 / 126.90

Support areas:

- 124.40 / 123.90

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!

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

Isabel Clark,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

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