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*

Elliott wave analysis of GBP/JPY for June 19, 2020

analytics5eec395bcfa81.jpg

GBP/JPY dropped much lower than we had expected and now, it is testing the 78.6% corrective target and the channel support line. At the same time, we saw the bullish divergence for the RSI. This points to an impulsive rally in the near future. However, we were disapointed the last time we were waiting for a turnaround. Therefore, we would like to see minor resistance at 133.63. It is even more important to see that resistance at 134.35 is broken before we are on the safe ground and wait for a new impulsive rally towards 139.74 on the way higher to 148.32.

Support at 131.63 must be able to protect the downside. Otherwise, we will have to review and re-count the rally from 129.30.

R3: 135.14

R2: 134.35

R1: 133.63

Pivot: 133.09

S1: 132.68

S2: 132.36

S3: 131.85

Trading recommendation:

Our stop at 133.10 was hit by a loss and we will re-buy GBP here at 132.85 and place our stop at 131.55.

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