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 June 22, 2020

analytics5ef034669d99b.jpg

The decline from 124.43 has reached a new low at 119.31. The deeper than expected corrective drop from 124.43 has once again forced us to review our count from wave (E) at 114.40. The rally from 114.40 to 124.43 can be counted as a complete impulsive rally (five waves). This rally does fulfill all requirements, so we have decided that this count now is our preferred count. Under this count, the correction in wave 2 now has met the 50% corrective target at 119.41, and at the same time, we see a clear positive divergence from the RSI indicating a possible low now can be in place. If this is the case, then EUR/JPY may break above minor resistance at 120.21 soon.

This, however also means, that as long as minor resistance at 120.21 is able to cap the upside, the risk remains lower, but the positive divergence will work in our favor and limit the potential downside.

R3: 121.23

R2: 120.53

R1: 120.21

Pivot: 119.70

S1: 119.31

S2: 119.10

S3: 118.91

Trading recommendation:

We are long EUR from 119.95 and we will keep our stop at 118.95

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