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Wednesday, March 19, 2014

Elliott wave analysis of EUR/JPY for March 19 - 2014

Nice to be back from an absolutely perfect vacation.


EUR/JPY

Today's Support and Resistance Levels:
R3: 141.87
R2: 141.58
R1: 141.48
Current Spot: 141.40
S1: 141.08
S2: 140.74
S3: 140.45
Technical Summary:
The X wave from 136.23 became more complex than first expected, but it most likely ended with the test of 143.79 and a second zig-zag correction lower is likely developing. Short term we will likely see a decline in red wave v towards the 139.79 - 140.20 area to end the first small impulsive decline from 143.79. This first impulsive decline should be followed by a minor correction higher towards 142.00 and maybe even a little higher towards 142.40 before the next impulsive decline lower towards at least 136.46.



3 comments:

  1. Great to see you back EWS sounds like you had a Wonderful break :)
    Can you have a look at audnzd as i think could be getting ready for a good move up with nzd must be coming to end of up trend very soon...
    Brgs jt

    ReplyDelete
  2. Hi EWS DJI looking interesting to looks like from 16512 i ii (i) (ii) (iii) (iv) (v) iii and at iv now would you say this is the right count.
    Brgs jt

    ReplyDelete
  3. Welcome back! Hope that rest was beneficial.Could consideration couple EUR/GBP in wave count.

    ReplyDelete