View Single Post
  #109  
Old 13-01-2016, 22:43
InstaForex's Avatar
InstaForex InstaForex is offline
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 2,332
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
Overall we continue to look for more downside pressure towards 126.05 and below to 125.45 as the next downside targets. As long as minor resistance at 128.47 protects the upside, we are looking for a direct break below minor support at 127.64 for a new test of 126.76 on the way lower to 126.05.
If however, minor resistance at 128.47 is broken, that will prolong the correction in red wave (iv) for a rally to 129.48 before going lower again.

Trading recommendation:
We are short EUR from 130.95 and will move our stop lower to 128.55. If you are not short EUR yet, then sell close to 128.20 and use the same stop at 128.55.




Reply With Quote