empty
 
 
11.03.2015 07:11 AM
Elliott wave analysis of EUR/JPY for March 11 - 2015

This image is no longer relevant

Technical summary:

The decline towards the ideal target at 125.98 unfolded as expected. In a short term, more downside bias should be seen after a minor setback towards 130.47 and even slightly higher to 131.25 before the next movement to 127.32 takes place. With a new low below the wave (iii) low at 130.14 all requirements to wave C has been fulfilled now and we should be aware of a bottom being in place at anytime now.

Trandig recommendation:

We are short EUR from 133.90 and will move our stop lower to 131.90. Look for the bottom to buy EUR.

Summary
Urgency
Analytic
Torben Melsted
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