Wave pattern on the H4 chart:
From mid-April, the pair forms an upward motion vector. In the wave structure there is no final part (C).
Wave pattern on the H1 chart:
The descending wave leading from the end of August formed a correction in the model of the older TF.
Wave pattern on the M15 chart:
The rising wave of November 13 has a turning potential. Over time, the beginning of the rise will move to a larger scale of movement. After the correction of the last week the price is waiting for price growth.
Recommended trading strategy:
For traders who practice short-term trading style, it is recommended to track the signal to buy an instrument. Entry conditions are not created for investments on longer periods.
Resistance zones:
- 0.9030 / 0.9080
Support areas:
- 0.8850 / 0.8800
Explanations of the figures:
The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, three main TFs are used. On every last part, the 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 while the dotted shows 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!