empty
 
 
21.08.2015 05:46 AM
Elliott wave analysis of EUR/JPY for August 21 - 2015

This image is no longer relevant

Technical summary:

The expected rally closer to 139.41 has unfolded nicely. In the short term, we will be looking for a break above the minor top at 138.85 as confirmation of the move higher to 139.41. Support is now found at 138.12, which ideally should protect the downside.

Once the 139.41 target is reached, a new consolidation is expected before the next rally higher to 141.06 and above.

Trading recommendation:

We are long EUR from 137.45 and will move our stop higher to 138.00 and place stop profit at 139.35.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback