empty
 
 
15.05.2013 08:57 AM
EUR/JPY Elliott wave analysis for May 15, 2013

This image is no longer relevant

Today's support and resistance levels:

R3: 133.59

R2: 132.77

R1: 132.38

Current spot: 132.18

S1: 131.98

S2: 131.53

S3: 131.05

Technical overview:

After one last decline in minor wave four of iii down to 131.53 we saw the expected rally higher through resistance at 132.40. We are now in wave five of iii of 5 and we still expect this rally in wave five of iii to reach its ideal target near 133.59 before we will see wave iv of 5 take over. As wave ii 5 was a flat correction, we would be looking for a quick zig-zag correction towards 131.79 before the final rally higher in wave v of 5, which will have an ideal target near 135.47, this final rally will end the entire rally since the 94.10 low.

Trading recommendation:

We long EUR from 127.30 and our stop was raised to 131.30 when we broke above 132.40. Our take profit+reversal is at 135.00.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Torben Melsted
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback