empty
 
 
30.11.2016 07:55 AM
Elliott wave analysis of EUR/JPY for November 30, 2016

This image is no longer relevant

Wave summary:

The correction from 120.16 is turning into a flat correction. We have seen wave a and b and now needs wave c lower to at least 118.52 and possibly even lower to 117.69 to complete red wave iv and set the stage for the next impulsive rally higher in red wave v. The ideal target for red wave v is seen near 122.00.

Short-term, a break below minor support at 119.43 will confirm that wave c of red wave iv is developing.

Trading recommendation:

We will buy EUR at 118,65 with stop placed at 117.30 for the final rally higher towards 122.00.

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