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Wednesday, February 26, 2014

Elliott wave analysis of EUR/JPY and EUR/NZD for February 26 - 2014

EUR/JPY

Today's Support and Resistance Levels:
R3: 141.87
R2: 141.29
R1: 140.83
Current Spot: 140.62
S1: 140.37
S2: 140.13
S3: 139.74
Technical Summary:
The minor triangle broke towards the downside for a test of support at 140.13 before renewed upside pressure emerged. Besides the small detour nothing has changed and I'm still looking for a move higher towards the ideal target at 142.26 before the x-wave from 136.23 finally comes to and end and the next decline towards the 38.2% corrective target of the rally from 94.10 to 145.69 sets in.

EUR/NZD

Today's Support and Resistance Levels:
R3: 1.6567
R2: 1.6538
R1: 1.6498
Current Spot: 1.6477
S1: 1.6460
S2: 1.6445
S3: 1.6410
Technical Summary:
The failure to break clearly above 1.6509 keeps the 1.6445 target alive. Short term minor resistance at 1.6498 should protect the upside for the last decline towards the 1.6445 target to end wave 2 and set the stage for wave 3 higher. Only a break above minor resistance and more importantly a break above resistance at 1.6538 indicates that wave 2 is over and wave 3 is developing for a rally higher towards at least 1.7141.

7 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. hello
    it's over , over , over
    you made it very very right but i think it's done and already cooked

    the thing is in the triangel it's not (a,b) it's ( w,x )
    and the other 3 waves to the upside is (a,b,c)
    so the whole move became (w,x,y) to end @ exact 50% of the whole down move from 145.75 to 136.25
    excactly the 50% came @ 141.25
    AND if you calculate the percent from the 136.25 to 140.30 as (w) the take the 0.618 % from the end of the triangel @ 138.94 you will find the target again @ 141.25 @ the 50% again & again

    this it it's done don't wate for another 100 pip the correction is over

    plz look it that way and tell me what you see

    ReplyDelete
    Replies
    1. Hi Ahmed,

      I think you have a valid Count and valid calculations.

      So stay with it and enjoy the ride.

      Kind regards
      EWS

      Delete
  3. This comment has been removed by the author.

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  4. i don't know the cahrt don't want to appear


    http://www14.0zz0.com/thumbs/2014/02/26/08/323210367.png

    [url=http://www.0zz0.com/realpic.php?s=14&pic=2014/02/26/08/323210367.png][img]http://www14.0zz0.com/thumbs/2014/02/26/08/323210367.png[/img][/url]

    ReplyDelete
  5. The first link works but the chart is too little!

    ReplyDelete