empty
 
 
26.08.2014 10:47 AM
Elliott wave analysis of EUR/JPY for August 26, 2014

This image is no longer relevant

Today's support and resistance levels:

R3: 137.67

R2: 137.47

R1: 137.30

Current spot: 137.12

S1: 137.01

S2: 136.81

S3: 136.61

Technical summary:

We have seen a break below the minor support line from 135.73, which is the first strong indication that the final wave v decline towards 134.34 is unfolding, but we still need a break below 136.81 to confirm that wave v is indeed developing for the expected decline towards the equality target between wave A and C at 134.34. Only a break above resistance at 137.91 will invalidate the bearish count and call for a rally higher to 140.07.

Trading recommendation:

We are short in EUR from 137.75 with stop placed at 137.70. If you are not short in EUR yet, then sell near 137.30 with the same stop at 137.70.

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