empty
 
 
27.02.2013 10:05 AM
EUR/JPY Produces a Hammer after Hitting 119.00 Levels. Bullish Bounce Probability Remains

This image is no longer relevant

Technical Outlook and Chart Setups:

A 4H chart view has been presented here for the latest swing structure. As seen, prices have stalled around 118.70 and 119.00 after reversing from the swing highs at 127.90. It is also should noted that 119.00 is re-enforced by past resistance turned support and 0.786 fibonacci level as well. Furthermore, a hammer is produced on the daily chart yesterday. Keeping the above facts in view, it is still recommended to stay long from yesterday and add positions on dips today. Immediate support is at 117.00 followed by 116.30/40; while resistance is at 122.00/122.50 (past support) followed by 124.00 and 125.00 respectively. At least a pullback rally towards 122.00/123.00 should materialize.

Trade Recommendations:

Stay long from yesterday, add further on dips, stop is below 117.00, target is at 122.00/123.00.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback