You are here: Home > articles > Elliott Wave > Elliott wave analysis of EUR/JPY for February 27 – 2015
Elliott wave analysis of EUR/JPY for February 27 – 2015
February 27, 2015 7:30 amVideo
Latest News
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
Technical summary:
The break below the support-line from 130.14 has forced us to consider wave (iv) as shown. The latter part of this count is very messy and we are still cautious as this mess quickly could turn into something entirely different. To make this count valid, we should stay below resistance at 135.37 for a clear break below support at 133.51, which would call for wave (v) lower towards the ideal target at 125.98. Only a break above 135.37 will keep the correction from 130.14 alive and call for a rally to 137.65 to end wave (iv) and set the stage for wave (v) lower.
Trading recommendations:
We are short EUR from 133.90 and will lower our stop to 135.45. EUR should only be sold near 134.65 or upon a break below 133.51 with the same stop at 135.45.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: