EUR/JPY H1 and H4 analysis for November 18, 2013
November 18, 2013 8:30 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
General overview for 18/11/2013 08:00 CET
H4 time frame: The SUPPLY zone at 135.30-135.49 has been hit and the price reversed slightly down to old 61%Fibo Exp that is acting as a dynamic support now. The TARGET level of one-to-one geomety has not been hit yet (136.01) but I still expect the price to overtake the current swing high and travel upwards. Nevertheless, some kind of correction is needed now and possibly Weekly Pivot level at 134.53 might be tested before upward wave progression will resume. Bias is to the upside.
H1 time frame: The price is still moving upwards inside the blue channel, but the wave development does not look too much impulsive so far and my guess is that this will be some sort of ZigZag . Those are last stages of an Ending Diagonal wave 5 black count.
Support/Resistance:
136.01 – TARGET
135.33 – Intraday high
134.91 – Intraday Support
134.47 – Intraday Support
134.40 – Weekly Pivot
134.01 – Techncial Support
133.70 – WS1
133.21 – Intrday Support
Trading recommendations:
For intraday scalpers: as long as the price stays within the blue channel, long positions are in favor. The best entry here would be into Weekly Pivot zone with SL just below it and a potential TP at 136.01.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: