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 December 8, 2016

General overview for 08/12/2016:

The market is awaiting the ECB interest rate decision later in the day, so the price is still trading inside a trading range between the levels of 121.86 and 123.17. It looks like the wave -iv- is unfolding now, possibly in the shape of a triangle. When this corrective structure is completed, one last wave to the upside will remain. The projected target for wave (v) (green) is at the level of 124.00. When the impulsive structure is completed, a larger time frame correction will be expected.

Support/Resistance:

124.00 - WR2

123.17 - Intraday Resistance

122.71 - WR1

121.85 - Intraday Support

120.62 - Weekly Pivot

119.40 - WS1

118.71 - Technical Support

Trading recommendations:

All day traders with open buy orders should prepare to take profits off the table at the current levels (or wait for the level of 124.00 to be hit) and wait for another trading setup to occur shortly.

analytics5849452750004.jpg

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