Wave analysis
Roman Molodiashin
Resistances:
- 1.0107 = contracted objective point (COP)
- 1.0172 = objective point (OP)
- 1.0189 = OP
- 1.0208 = .50 retracements
- 1.0172 = objective point (OP)
- 1.0189 = OP
- 1.0208 = .50 retracements
If the pair reverses to the downside the immediate supports will be Fibonacci retracements of 0.9663-1.0085.
Supports:
- 0.9924 = .382 ret
- 0.9874 = .50 ret
- 0.9824 = .618 ret
- 0.9874 = .50 ret
- 0.9824 = .618 ret
Overbought/Oversold
Assuming that the larger wave is now moving up it's preferable to try long positions when the Detrended Oscillator goes below the zero level (current prices) or gets into the oversold area (current prices).
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