Elliott wave analysis of EUR/JPY

Elliott wave analysis of EUR/JPY for February 20, 2017

USD/JPY – 4 Hourly Wave summary: We continue to expect support at 119.30 that will be able to protect the downside for a break above minor resistance at 120.39 and more importantly a break above resistance at 121.33 that will confir, that red wave iii higher toward 123.67 is unfolding. The ideal target for wave v/ and 3 remains being seen at 126.54. Only an unexpected break below support at 119.30 will invalidate the immediately bullish count, but no invalidate the long-term count calling for more upside closer to 126.54 to complete wave 3. Continue reading “Elliott wave analysis of EUR/JPY”

NZD/USD Intraday technical analysis

NZD/USD Intraday technical levels and trading recommendations for February 13, 2017

On December 16, the price level of 0.6990 failed to apply enough bullish pressure.

Instead of that, bearish movement continued toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23. Continue reading “NZD/USD Intraday technical analysis”