empty
 
 
19.11.2013 10:10 AM
EUR/JPY H1 and H4 analysis for November 19, 2013

General overview for 19/11/2013 07:25 CET

A labeling has been a little bit changed just to indicated a possible longer wave W brown, so this upward wave development has been relabeled to (a)(b)(c) navy cycle. Nevertheless the oveall overview remains the same: more higher prices in view.

Currently, the price is in corrective cycle wave X brown. The first leg of correction has been done (green), and now some reaction to the upside should be seen in wave b green. When it is done, last wave down, c green, will be anticipated and new highs are on the wave.

134.00 is the Key Level here for intraday traders. Breakout to the downside exposes 132.21 Intraday Support level.

Support/Resistance:

135.33 - Intraday High

134.47 - Intraday Support

134.39 - Weekly Pivot

134.00 - Technical Support

133.70 - WS1

133.21 - Intraday Support

Trading recommendations:

In anticipation of wave c green to the downside, the short side of the market should be in play from 135.33 level with a TIGHT SL and potential TP at 134.47 and 134.00.

This image is no longer relevant
This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
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
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback