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 18, 2016

General overview for 18/08/2016:

The choppy, horizontal price action continues after the price has bounced from the intraday support at the level of 112.31, but did not manage to break out above the intraday resistance at the level of 114.01. Only a sustained break out above this level would mark the bottom of the wave ii at the level of 112.35 and make the impulsive rally in wave iii possible. The invalidation level for this scenario is still at the intraday support at the level of 112.31, nevertheless the bullish divergence between the price and momentum oscillator indicates a possible upside rebound.

Support/Resistant:

112.31 - Intraday Support

112.42 - WS1

113.17 - Weekly Pivot

113.65 - WR1

114.02 - Intraday Resistance

114.48 - WR2

114.96 - WR3

Trading recommendations:

Day traders should consider opening buy orders from current price levels with SL below the level of 112.30 and TP at the level of 114.00.

analytics57b5a459844dd.jpg

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