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 EUR/JPY for August 18, 2014

2014-08-18-EURJPY-8H.png


Today's support and resistance levels:


R3: 137.42


R2: 137.36


R1: 137.28


Current spot: 137.14


S1: 136.95


S2: 136.75


S3: 136.60


Technical summary:


Wave iv spiked higher that the expected 137.34 (the high came in at 137.61), but most importantly resistance at 137.70 held firm. Now, we should see the final decline towards the ideal target at 134.34. The decline from 137.61 is in five waves. In the short term, we should see resistance in the 137.36 - 137.42 area protecting the upside for a break below support at 136.95 confirming the next decline towards 135.05 before a flat or tiangle consolidation and then the final decline to 134.34 to end wave C.


Trading recommendation:


We are short in EUR from 137.30 with stop placed at 137.75. If you are not short in EUR yet, then sell near 137.36 with the same stop at 137.75.


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