empty
 
 
06.12.2013 04:04 PM
EUR/JPY H1 analysis for December 6, 2013

General overview for 06/12/2013 10:15 CET

The downside wave progression has been invalidated and now it looks like price has completed abcde Triangle in wave alt:(4) purple and it will try to break higher and even test the top today.

The Demand Breakthrough Zone has been almost invalidated and thats the further evidence for more upside to come.

The alternate count on H1 time frame is a possible impulsive wave (5) purple progression to the upside. If it is correct, new high could be easy done with this wave development. 

In case of a breakout the target for wave (5) is 140.78 - 141.01 zone as per old H4 chart.

Supprt/Resistance:

141.01 - 140.78 - Wave (5) target

140.00 - 4 years high

139.59 - 139.41 - Demand Breakthrough Zone

138.80 - Weekly pivot

Trading recommendations:

Go long from CMP with SL @ 139.38 and TP @ 140 

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
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