Simplified Wave Analysis. Review of EUR / CHF pair for the week of October 21

Wave pattern on the H4 chart:

The wave relevant for this scale has completed the downward trend of the daily TF.

Wave pattern on the H1 chart:

The high level of the bullish wave that began on September 7 makes it possible to wait for a gradual transition of the entire movement by 2 orders up.

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Wave pattern on the M15 chart:

During the entire month since October 22, the price of the pair had a descending vector of motion. In the wave of the hourly TF, it became a correction. Recoil is within the next few days possible upward.

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Recommended trading strategy:

The decline in recent weeks is directed against the promising course of the pair, so sales make sense only on the smallest TFs. In the area of calculated support, it is recommended to track the reversal signals.

Resistance zones:

– 1.1380 / 1.1430

Support areas:

– 1.1230 / 1.1180

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!

The material has been provided by InstaForex Company – www.instaforex.com

Bitcoin analysis for November 21, 2018

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Trading recommendations:

According to the H1 time – frame, I found that BTC is trading in the upward correction phase, which is sign that buying looks risky. The trend is still bearish and my advice is to watch for potential breakout of the bearish flag to confirm further downward continuation. The next downward target is set at the price of $3.248 (Fibonacci expansion 161.8%).

Support/Resistance

$4.717– Intraday resistance

$4.018– Intraday support

$3.248 – Objective target

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The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis of USD/CHF for November 21, 2018

Overview: The USD/CHF pair continues to trade upwards from the level of 0.9951 on the H4 chart. Today, the first support level is currently seen at 0.9951, the price is moving in a bullish channel now. Furthermore, the price has been set above the st…

EUR/USD analysis for November 21, 2018

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1393. According to the H1 time – frame, I found that upward correction is in progress, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward target is set at the price of 1.1300.

The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis of GBP/USD for November 21, 2018

Overview:The GBP/USD pair dropped sharply from the level of 1.2890 towards 1.2780. Now, the price is set at 1.2780. On the H1 chart, the resistance is seen at the levels of 1.2890 and 1.3001. Volatility is very high for that the GBP/USD pair is still…

GBP/USD analysis for November 21, 2018

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Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2776. According to the H1 time – frame, I found a potential end of the upward correction in the background (expanded flat), which is a sign that buying looks risky. Most recently, I have found the breakout of the intraday bearish flag, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2722.

The material has been provided by InstaForex Company – www.instaforex.com

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