LATEST ARTICLES

Elliott wave analysis of EUR/JPY for July 31, 2017

Posted On 31 Jul 2017
By :
Comment: 0
analytics597eb6a55248e.png

Wave summary:

Short-term important support at 130.77 held once again, but we do not expect this minor decline. The pair will move lower than 129.30 before turning higher again to try to break above resistance at 130.77 for a continuation higher towards 133.46.

Only an unexpected break below minor support at 128.90 will confirm that wave iv has not completed yet, but the potential downside still should remain limited.

R3: 130.41

R2: 130.10

R1: 128.84

Pivot: 129.75

S1: 129.53

S2: 129.30

S3: 128.90

Trading recommendation:

We are long EUR from 129.75 with stop placed at 129.15 and take-profit at 133.20.

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

Source:: Elliott wave analysis of EUR/JPY for July 31, 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