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FX.co ★ Trade review for January 24 by simplified wave analysis

Trade review for January 24 by simplified wave analysis

Review and Forecast for NZD / USD pair

The direction of the short-term trend of the New Zealand dollar. Part of the movement has a pronounced impulse character. In a larger scale wave model, it marks the beginning of the final part (C).

The price came close to the lower boundary of a large scale. From this zone, there is a high probability of a correction in the next few days.

In today's morning, a flat mood is possible with a descending vector. By the end of the day, price fluctuations are expected to increase.

Boundaries of resistance zones:

- 0.7390 / 0.7420

Boundaries of support zones:

- 0.7330 / 0.7300

Trade review for January 24 by simplified wave analysis

Review and forecast for USD / CAD pair

Analysis of the major Canadian currency daily scale chart indicates a downward trend in the trend movement, since January 2016. After the part of correction, a new bearish wave began. The whole current month. Analysis of the ascending section of the inclusive structure of the bullish wave. In the near future, you can wait for the final spurt in the price growth.

The decline, which began yesterday, is expected to end today. The chance of starting an increase in the day. The zone of resistance is the upper limit of the daily course of the pair.

Boundaries of resistance zones:

- 1.2480 / 1.2510

Boundaries of support zones:

- 1.2390 / 60

Trade review for January 24 by simplified wave analysis

Explanations of the figures:

For simplified wave analysis, a simple waveform is used that combines 3 parts namely A, B, and C. All types of correction are created and most of the impulses can be found in these waves. Every time frame is considered and the last incomplete wave is analyzed.

The areas marked on the graphs indicate the probability of a change in the direction of the movement. Arrows indicate the wave counting. A solid background of the arrows.

Attention: The wave algorithm does not take into account the duration of the movement of tools in time. The forecast is not a trading signal! To conduct a bargain, you need to confirm the signals used by your trading systems.

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