MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of EUR/JPY for August 25, 2014

General overview for 25/08/2014 10:00 CET


The wave 2 of 3 high at the level of 137.98 is the point of the reference for the further wave progression in this pair. The overall cycle is bearish. Currently, the market should gain more momentum as the wave -iii- to the downside is in progress. The intraday support level has been broken. The market is in the neutral zone and only a sustained breakout above the golden trendline could make the bulls regain the control. Otherwise, more downward price target should be seen soon, with the first support at the level of 136.85.


Support/Resistance:


138.05 - WR1


138.02 - Swing High |Invalidation Level|


137.98 - Wave 2 of 3 High


137.42 - Weekly Pivot


137.25 - Intraday Support


136.85 - WS1


136.70 - Bearish Zone Level


136.24 - WS2


Trading recommendations:


The short orders from the last week with SL above the level of 138.02 should be still kept open. New short orders can be added from the current price levels with the same SL as before and TP at the level of 136.70 with a very possible downside extension to the level of 135.70.


eurjpy_h1.jpg


The material has been provided by InstaForex Company - www.instaforex.com