LATEST ARTICLES

Elliott wave analysis of EUR/JPY for April 25б 2017

Posted On 25 Apr 2017
By :
Comment: 0
analytics58ff04b24dc2e.png

Wave summary:

We continue to look for more upside towards 120.62 and possibly even higher towards 121.92 to complete wave iii/. Wave iii/ should be followed by a shallow flat correction in wave iv/ and ideally hold above 118.88 for the next impulsive rally higher.

Longer term, we expect a rally to above 122.88 and 124.09 during this run higher.

R3: 121.92

R2: 120.62

R1: 120.16

Pivot: 120.00

S1: 119.61

S2: 119.35

S3: 118.88

Trading recommendation:

We are long EUR from 115.25 and we will move our stop higher to 118.50. If you are not long EUR yet, then buy a break above 120.16 and use the same stop at 118.50.

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

Source:: Elliott wave analysis of EUR/JPY for April 25б 2017

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*

[adrotate group="2"]
[adrotate group="15"]

InstaForex – Market Analysis

<a href="https://www.instaforex.com/">Forex Portal</a>

Like Us On Facebook

[adrotate banner= "75"]

Follow on Stocktwits

Follow Us on StockTwits

Connect

facebook
twitter
google-plus
youtube
linkedin
rss
Copyright © 2015 Forex Alchemy. All rights reserved.
Forexalchemy.com is made available as an online source of Foreign exchange trading information and related-materials only. By using ForexAlchemy you acknowledge and understand that we are not soliciting participation in Forex trading. You also acknowledge and agree that there are large potential risks associated with investment and trading activity and that you have accepted such risks before deciding to invest and before deciding to use ForexAlchemy as a source of trading-related information and materials. Please read our full disclaimer and terms of use before using this website:
Disclaimer & Terms of Use     Privacy Policy