Translate

Tuesday, April 22, 2014

Elliott wave analysis of EUR/JPY - Red wave iii lower developing?

EUR/JPY

Today's Support and Resistance Levels:
R3: 142.17
R2: 141.82
R1: 141.68
Current Spot: 141.38
S1: 141.23
S2: 140.98
S3: 140.65
Technical Summary:
I'm looking for a confirmed break below support at 141.23 to indicate wave iii lower towards 136.33 is developing. However, I do think that short term resistance at 141.68 will be strong enough to protect the upside for for the confirmed break below 141.23 indicating that red wave iii lower towards 136.33 is unfolding. On the way lower towards 136.33 support will be found at 140.98 and again at 140.23.

Posted by at
Labels:

4 comments:

  1. UnknownApril 22, 2014 at 9:00 PM

    Good idea...keep shorting and ill keep on taking your money...

    ReplyDelete
    Replies
    1. Elliott wave surferApril 23, 2014 at 1:47 PM

      Hi Jean,

      I hope you took the 20-30 pips that was handed to you...

      Kind regards
      EWS

      Delete
    2. UnknownApril 24, 2014 at 6:56 PM

      Im taking it all the way to 152

      Delete
    3. Elliott wave surferApril 25, 2014 at 8:04 AM

      Hi Jean,

      Wow! you might need deep pockets to carry that trade. I will not say you are wrong because I'm only looking for a correction of the 94.10 - 145.69 rally myself, but the correction we have seen till now, does not look complete in my eyes.

      Kind regards
      EWS

      Delete

Subscribe to: Post Comments (Atom)