empty
 
 
19.10.2020 06:22 AM
Elliott wave analysis of EUR/JPY for October 19, 2020

This image is no longer relevant

Short-term key-support at 123.00 has protected the downside and we are now looking for a break above minor resistance at 123.77 as a strong indication that wave ii has completed and wave iii to above the former peak at 127.02 is in motion.

Short.term support is now seen at 123.09 and this support should be able to protect the downside or a new test of key-support at 123.00 will be seen.

R3: 124.21

R2: 123.95

R1: 123.77

Pivot: 123.46

S1: 123.21

S2: 123.09

S3: 123.00

Trading recommendation:

We are long EUR from 123.48 with our stop placed at 123.00.

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 $1000 more!
    In April we raffle $1000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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