EUR/JPY Elliott wave analysis for May 15, 2013
May 15, 2013 6:45 amVideo
Latest News
- Forecast for GBP/USD on May 10, 2024 May 10, 2024
- Forecast for AUD/USD on May 10, 2024 May 10, 2024
- Outlook for GBP/USD on May 10. The British pound failed. Or it simply refused May 10, 2024
- Outlook for EUR/USD on May 10. The euro went up for no reason May 10, 2024
- The US dollar stumbled again May 10, 2024
- The euro got away with it May 10, 2024
- Video market update for May 09, 2024 May 9, 2024
- Analysis of EUR/USD pair on May 9th. Euro woke up after the Bank of England meeting May 9, 2024
- Analysis of GBP/USD pair on May 9th. Andrew Bailey did all he could May 9, 2024
- USD/JPY: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- GBP/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- EUR/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- Technical Analysis – GBPUSD retreats further after BoE’s decision May 9, 2024
- Technical Analysis – UK 100 index swings to all-time high May 9, 2024
- GBP/USD: trading plan for the US session on May 9th (analysis of morning deals). The pound continues to be held within the May 9, 2024
- EUR/USD: trading plan for the US session on May 9th (analysis of morning deals). The euro rebounded from 1.0726 May 9, 2024
- EUR/USD. May 9th. Bulls have exhausted their strength May 9, 2024
- GBP/USD. May 9th. Bulls fear Bailey’s “soft” rhetoric May 9, 2024
- Midweek Technical Look – EURUSD, Gold, US 500 May 9, 2024
- Technical Analysis – EURCHF flirts with uptrend line May 9, 2024
Today’s support and resistance levels:
R3: 133.59
R2: 132.77
R1: 132.38
Current spot: 132.18
S1: 131.98
S2: 131.53
S3: 131.05
Technical overview:
After one last decline in minor wave four of iii down to 131.53 we saw the expected rally higher through resistance at 132.40. We are now in wave five of iii of 5 and we still expect this rally in wave five of iii to reach its ideal target near 133.59 before we will see wave iv of 5 take over. As wave ii 5 was a flat correction, we would be looking for a quick zig-zag correction towards 131.79 before the final rally higher in wave v of 5, which will have an ideal target near 135.47, this final rally will end the entire rally since the 94.10 low.
Trading recommendation:
We long EUR from 127.30 and our stop was raised to 131.30 when we broke above 132.40. Our take profit+reversal is at 135.00.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: