You are here: Home > articles > Elliott Wave > Elliott Wave analysis of EUR/JPY for October 24, 2013
Elliott Wave analysis of EUR/JPY for October 24, 2013
October 24, 2013 3:15 pmVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Today’s Support and Resistance levels:
R3: 135.76
R2: 135.50
R1: 134.79
Current Spot: 134.26
S1: 133.89
S2: 133.60
S3: 133.33
Technical summary:
After a scary deep correction to 133.60 (100% of green wave i) yesterday we are looking for a new impulsive rally to develop. In the short term we expect minor support at 133.89 to protect the downside for a break above minor resistance at 134.79, which confirms a continuation higher towards at least 135.26 and likely even higher towards 136.08 as wave iii progresses.
However, at no time can a break below 133.60 be allowed as that would indicate, that a very complex correction is unfolding and will delay the upside progress for a decline to 133.30 and likely even closer to 132.61 before a new rally can be expected.
Trading recommendation:
Stay long EUR from 134.18 and move your stop higher to 133.85. If you are not long EUR yet, then buy a break above 134.79 with the same stop at 133.85.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: