Today's Support and Resistance Levels:
R3: 135.05
R2: 134.55
R1: 134.18
Current Spot: 133.97
S1: 133.60
S2: 133.33
S3: 132.96
Technical Summary:
With the break below short term support at 133.84 we have seen a correction lower to 133.60 and we could still see a slightly deeper correction towards 133.57 and maybe even 133.33 before the next impulsive rally higher towards 135.76 and possibly higher towards 137.70 in wave iii of iii takes off. Only a break below important support at 132.61 will invalidate the bullish count and indicate, that a much more complex correction is unfolding for a decline towards 131.52 before up again.
Today's Support and Resistance Levels:
R3: 1.6233
R2: 1.6173
R1: 1.6136
Current Spot: 1.6104
S1: 1.6081
S2: 1.6057
S3: 1.6017
Technical Summary:
Ideally we will now see minor resistance at 1.6136 protect the upside for a break below minor support at 1.6081 and more importantly a break below 1.6057, which confirms a continuation lower towards 1.6017 on the way to the ideal target at 1.5872 where this ongoing wave C finally comes to an end and a new impulsive rally will take over for a new rally to 172.74 and higher.
A break above minor resistance at 1.6136 will indicate, that a more complex blue wave iv is unfolding as a running triangle, but it should trade below resistance at 1.6173 for the break below 1.6057 and lower. A break above 1.6173 will be of concern and a break above 1.6183 and more importantly a break above 1.6233 will indicate that wave C is already in place and the new impulsive rally higher already has begun.
Hi EWS:
ReplyDeleteThere is a SHSi in EURJPY in diary. The proyection of the figure is 137. Is that we were looking for? This is the chart:
http://www.mql5.com/en/charts/914596/eurjpy-d1-metaquotes-software-corp-temp-file-screenshot-61047
Hi Manuel,
DeleteYour Count is spot on, so enjoy the ride higher.
Best regards
EWS
is eurjpy incide at end of a diagonal triangle? I think tomorrow with NFP maybe breakdown !
ReplyDeleteWhat you think?
Hi Zink,
DeleteI don't think it's a ending diagonal, but then we have to stay flexible as long as we haven't seen the expected acceleration higher.
Kind regards
EWS
Thanks for your chart of the EURJPY; it communicates to me that an Elliott Wave 5 High has been achieved.
ReplyDeleteOn Tuesday, October 22, 2013, financial marketplace trading evidenced liberalism's peak nation state sovereignty, seigniorage, and moral hazard based prosperity, as its Krugmanomics here, and Abenomics, as well as Draghinomics, over there.
Liberalism attained peak prosperity on global currency carry trade investing and a pursuit of yield. Both of liberalism’s spigots of investment liquidity were open full wide. Said another way, the financial markets were under total leverage as evidenced by the Euro, FXE, Ultra Junk Bonds, UJB, and Leveraged Buyouts, PSP, rising strongly, and the US Dollar, $USD, falling strongly lower.
The monetary policies of the world central banks, have produced fully produced Krugmanomics here, and Abenomics. as well as Draghinomics, over there. The strong rise in Major World Currencies, DBV, and Emerging Market Currencies, CEW, drove World Treasury Bond, BWX, and International Corporate Bonds, PICB, to new highs.
The Steepner ETF, STPP, traded a strong 2.1% lower, reflecting the flattening of the 10 30 US Sovereign Debt Yield Curve, $TNX:$TYX.
The flurry of currency leverage and debt leverage caused the US Dollar, $USD, UUP, to plummet to close at 79.29.
World Stocks, VT, rose a solid 0.7%. Sectors rising strongly included Biotechnology, IBB, Solar Stocks, TAN, Design Build, FLM, Pharmaceuticals, PJP, Global Consumer Discretionary, RXI, and Global Industrial Producers, FXR, Spinoffs, CSD, and Transportation, XTN, And Yield Bearing Sectors rising included Utilities, XLU, Global Utilities, DBU, Real Estate, IYR, and Global Real Estate, DRW, Global Telecom, IST, as well as Leveraged Buyouts, PSP.
Asia Excluding Japan, EPP, and the Eurozone, EZU, led World Stocks, VT, higher. In Asia, the Philippines, EPHE, New Zealand, ENZL, Turkey, TUR, Thailand, THD, Malaysia, EWM. and Australia, EWZ, KROO, led the way higher. In Europe, Germany, EWG, EWGS, the Netherlands, EWN, and Italy, EWI, led the way higher. Argentina, ARGT, continued to a new rally high.
Both Ireland’s Bank, IRE, and the National Bank of Greece, NBG, rose strongly, to new rally highs, as the European Financials, EUFN, rose, taking the Eurozone Stocks, EZU, higher, all on the, EUR/JPY, carry trade, which to close higher at 135.98, as the Euro, FXE, at 136.34, and Yen, FXY, at 20.71.
The vertical rise seen in the chart of the EURUSD is truly stunning, and the parabolic rise in European Financials, EUFN, as well as nation investment in Ireland, EIRL, and its bank, IRE, marks the zenith of Liberalism, as the age of investment choice, which was based upon schemes of currency carry trade investing, and central bank credit.
The Speculative Leveraged Investment Community, consisting of the Too Big To Fail Banks, RWW, Investment Bankers, KCE, Stock Brokers, IAI, European Financials, EUFN, Emerging Market Financials, EMFN, Chinese Financials, CHIX, Regional Banks, KRE, and Asset Managers, such as Blackrock, BLK, have produced a terrific moral hazard based peak prosperity.
The strong trade lower in the US Dollar, $USD, to close at 79.29, and the strong rise in Nation Investment, EFA, and Global Industrial Producers, FXR, marks the zenith of liberalism's Milton Friedman Free to Choose Floating Currency Banker Regime, and the achievement of peak democratic nation state sovereignty, and banker driven seigniorage.
Out of a soon coming Financial Apocalypse, foretold in bible prophecy of Revelation 13:3-4, authoritarianism's Beast Regime of regional governance and totalitarian collectivism will provide regional nannycrat sovereignty and their diktat driven seigniorage.