empty
 
 
21.04.2015 07:15 AM
Elliott wave analysis of EUR/JPY for April 21 - 2015

This image is no longer relevant

Technical summary:

Red wave ii is currently unfolding towards 126.73. Once red wave ii is over near 126.73, a strong acceleration towards 131.30 and likely slightly above iis expected n red wave iii.

In the short term, I am looking for minor resistance at 128.47 protecting the upside for a break below support at 127.86 and below support at 127.57. That is likely to confirm red wave c lower towards 126.73 from where we should look for a move higher again.

Trading recommendation:

Our stop at 127.70 was hit for a nice little profit. We will buy EUR again at 126.80 or upon a break above 128.48 (one order done cancels the other). Stop will be placed at 126.00

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