Today's Support and Resistance Levels:
R3: 145.62
R2: 145.13
R1: 144.73
Current Spot: 144.49
S1: 144.24
S2: 143.61
S3: 143.29
Technical Summary:
Trying to pick the top has proven to be a hard nut to crack. However, the upside should be limited from here. We will likely not see more than 144.73 tested, but to indicate, that the top is in place a break below 143.61 is needed. that said, only a break below 140.98 confirms, that the top of wave 5 is in place and that a major correction towards at least 124.95 id developing.
Short term I will be looking for a move closer to resistance at 144.73 as long as support at 144.24 protects the downside.
EUR/NZD:
Today's Support and Resistance Levels:
R3: 1.7007
R2: 1.6960
R1: 1.6873
Current Spot: 1.6839
S1: 1.6803
S2: 1.6748
S3: 1.6708
Technical Summary:
Resistance at 1.6869 has been tested (the high has been 1.6873). Look for a correction in green wave ii towards at least 1.6708. That said, if support at 1.6803 protects the downside for a direct and powerful break above 1.6873 I will have to change my count slightly indicating, that blue wave v and green wave i ended already at 1.6808 and green wave iii is developing for a rally higher towards at least 1.6960 and more likely closer to 1.7239.
A break below 1.6803 confirms a correction in green wave ii towards at least 1.6708 and likely deeper towards 1.6569 before the next rally higher.
From september iam waitting for that retrace and never hapend so far....the market is crazy!!!!for this way i will not surprise to see usdjpy in 125 at end of year!!!!!
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