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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



Elliott wave analysis of EUR/JPY for May 29, 2020


EUR/JPY has rallied to a high of 119.39 or just above our ideal target at 119.31. This has completed wave iii/ and we should now see a correction in wave iv/. As wave ii/ was a simple deep zig-zag correction, we should expect a complex flat correction, that doesn't correct more than 38.2% of wave iii/. Then the pair may try to hit 117.84. Wave v/ may climb to at least 120.30 and possibly even closer to 121.16 where we see solid resistance.

In the short-term, a break below minor support at 118.45 will confirm that wave iii/ has peaked and wave iv/ is in motion.

R3: 120.29

R2: 119.65

R1: 119.39

Pivot: 118.80

S1: 118.45

S2: 118.20

S3: 117.84

Trading recommendation:

We took profit of 75% of our long EUR position at 119.20 enjoying a nice profit of 355 pips. We will re-buy EUR at 118.00

The material has been provided by InstaForex Company -