Elliott wave analysis of EUR/JPY for July 24, 2014
July 24, 2014 8:45 am
Today’s support and resistance levels:
R3: 137.00
R2: 136.73
R1: 136.60
Current spot: 136.45
S1: 136.36
S2: 136.25
S3: 136.09
Technical summary:
Not much news to add here. We are still looking for a correction to just below 137.34 to end red wave iv and set the stage for red wave v lower to 135.49. In the longer term, we are still looking for a decline to 134.34, where wave C will equal wave A in length.
Trading recommendations:
Our stop-profit at 136.65 was hit for a nice profit. We will sell EUR again at 137.20 with stop place at 138.15.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s support and resistance levels:
R3: 137.00
R2: 136.73
R1: 136.60
Current spot: 136.45
S1: 136.36
S2: 136.25
S3: 136.09
Technical summary:
Not much news to add here. We are still looking for a correction to just below 137.34 to end red wave iv and set the stage for red wave v lower to 135.49. In the longer term, we are still looking for a decline to 134.34, where wave C will equal wave A in length.
Trading recommendations:
Our stop-profit at 136.65 was hit for a nice profit. We will sell EUR again at 137.20 with stop place at 138.15.
The material has been provided by InstaForex Company – www.instaforex.com
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