empty
 
 
10.05.2012 09:36 AM
EUR/JPY: Sell Intraday Rallies, Downside Remains Intact - Technical Analysis and Trading Recommendations

This image is no longer relevant

 

Technical Outlook and Chart Setups:

As depicted above, wave structure remains intact towards downside extension D. Resistance on daily charts remains fixed between 107.50 and 108.00. Prices have just stalled ahead of our minimum expectation of 102.00. Any intraday rallies should be well capped below 105.00 levels; in fact, one can add the short positions around 105.00 again. We recommend to book partial profits at 102.00.

Trading Recommendations:

Sold around 104.00-104.25, Stop at 105.50, Targetting at 102.00 and 100.50.

 

Best regards,

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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 $8000 more!
    In March we raffle $8000 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