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 27, 2021


EUR/JPY seems to have found it's wave 3/ peak at 133.59 just 7 small pips from our target. It is likely to test the 133.66 for many months now. The rally happened after the break of 133.66 above the S/H/S bottom neck-line resistance in February at 127.09. At the same time wave 3/ would be 161.8% larger than wave 1/ at 133.66. So, two different ways to find the 133.66 target, and now just 7 small pips before wave 3/ is completed. We should focus on the expected correction in wave 4/.

As wave 2/ was a deep correction we should expect a smaller correction in wave 4/ by 23.6% or at the most 38.2%. Wave 2/ was a simple correction. So, we should look for a complex correction in wave 4/ This could be an expanded flat or a triangle consolidation, but either way, it will be difficult to trade.

Trading recommendation:

Ideally, you should have taken profit close to 133.66 if not then consider taking profit here and wait for a new buy-option in the support area between 129.05 - 130.82 for the next impulsive rally higher in wave 5/.

The material has been provided by InstaForex Company -