empty
03.01.2018 09:40 AM
Trade review for January 3 by simplified wave analysis

Overview and forecast for EUR / USD

The graph of the European currency in the main pair against the dollar after the correction period resumed its growth. The quotes of the pair reached a critical point again, which divides the two main options for the future scenario. In the first case, the current stretched plane of large scale will be continued further. An alternative option involves pre-shaping the correction at a higher wave level.

Today is probably the end of the rise of the past days. Turning is not expected above the resistance zone levels. At the beginning of the course of the price down can be calculated in the second half of the day. The lower limit of the daily course of the pair is the settlement support.

The boundaries of the resistance zones:

- 1.2080 / 1.2110

The boundaries of the support zone:

- 1.2000 / 1.1970

This image is no longer relevant

Overview and forecast for USD / CAD

The direction of the short-term trend on the chart of the major pair of the Canadian dollar is set by the upward wave of September 8 last year. During the last 2 months, the price is adjusted, forming a wave zigzag. The preliminary calculation of the target zone gives, as the nearest landmark of the completion of the wave, the mid-hundred, and twenty-fifth price pattern.

Today, the formation of a corrective rollback is likely. The flute nature of price fluctuations will become dominant. The swing upwards limits the calculated resistance zone.

Then you should wait for a return to the main course of the movement and a new section for strengthening the Canadian currency.

The boundaries of the resistance zones:

- 1.2580 / 1.2610

The boundaries of the support zones:

- 1.2500 / 1.2470

This image is no longer relevant

Explanations to the figures: For simplified wave analysis, the simplest type of wave is used in the form of a zigzag, combining 3 parts (A; B; C). Of these waves, all kinds of correction are composed and most of the impulses. At each time frame, the last, incomplete wave is analyzed.

The areas marked on the graphs are indicated by the calculation areas, where the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted one indicates the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a trade transaction, you need to confirm the signals of your trading systems.

Isabel Clark,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on July 7, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse wave pattern. The wave picture is nearly identical to that of EUR/USD because the sole factor

Chin Zhao 20:08 2025-07-07 UTC+2

EUR/USD Analysis on July 7, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several months. The formation of an upward trend segment continues, and the news background continues to support

Chin Zhao 20:05 2025-07-07 UTC+2

GBP/USD Analysis on July 2, 2025

The wave pattern for GBP/USD continues to suggest the formation of an upward impulsive wave sequence. The wave pattern closely resembles that of EUR/USD, since the U.S. dollar remains

Chin Zhao 20:33 2025-07-02 UTC+2

EUR/USD Analysis on July 2, 2025

The wave pattern on the 4-hour chart for EUR/USD continues to indicate the formation of an upward trend segment. The trade war initiated by Donald Trump was intended to boost

Chin Zhao 20:31 2025-07-02 UTC+2

GBP/USD Analysis on June 30, 2025

The wave pattern for GBP/USD continues to suggest the formation of an upward impulsive wave pattern. The wave picture is nearly identical to that of EUR/USD, as the U.S. dollar

Chin Zhao 20:00 2025-06-30 UTC+2

EUR/USD Analysis on June 30, 2025

The wave pattern on the 4-hour chart for EUR/USD continues to indicate the formation of an upward trend segment. Until February 28, when the U.S. dollar began to decline

Chin Zhao 19:47 2025-06-30 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/CHF, and the US Dollar Index as of June 30th

In the coming trading days, the British pound is expected to continue its sideways movement. A return to the resistance zone is likely, followed by a possible reversal and resumption

Isabel Clark 11:27 2025-06-30 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and GOLD as of June 30th

In the coming days, the euro is expected to remain in a sideways flat phase. Near the calculated resistance area, there is a high chance of a pause

Isabel Clark 10:57 2025-06-30 UTC+2

GBP/USD Analysis on June 26, 2025

The wave pattern for GBP/USD continues to indicate the development of a bullish impulsive wave structure. The wave layout is almost identical to that of EUR/USD, as the sole reason

Chin Zhao 19:27 2025-06-26 UTC+2

EUR/USD Analysis on June 26, 2025

The wave pattern on the 4-hour chart for EUR/USD continues to indicate the formation of an upward trend segment. Until February 28, when the decline of the U.S. dollar began

Chin Zhao 19:20 2025-06-26 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.