Forex Lasers Forum

Go Back   Forex Lasers Forum > FOREX TRADING > Forex Analysis

Forex Analysis Technical and fundamental analysis of the majors and crosses. Post your FX charts!

Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.
» Forex Site
Reply
 
LinkBack Thread Tools Search this Thread
  #341  
Old 30-11-2017, 20:26
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY has bounced back and is again trading near resistance at 133.24. A clear break above this resistance, will call for a new rally closer to 133.71 before renewed downside pressure should be expected. The top at 134.50 should remain safe.
Only a direct break below minor support at 132.78 we add renewed downside pressure towards 131.14 and below.

Trading recommendation:
We are short EUR from 132.55 with stop placed at 133.35.




Reply With Quote
  #342  
Old 01-12-2017, 17:23
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY continues to push higher and the break above 133.23 now questions, whether wave (D) did complete at 134.50 or wave (D) still is in motion higher towards 137.37 before completing?
As long as resistance at 134.50 is able to cap the upside, we will continue to favor the count that sees the wave (D) as complete and wave (E) lower to 123.43 developing. Under this count, a break below 133.75 will be the first indication that a new decline should be expected.
If, however, resistance at 134.50 is broken, we will look for a final spike higher to 137.37 to complete wave (D).

Trading recommendation:
We will buy a break above 134.50 with a stop placed at 133.70 or sell a break below 133.75 with our stop placed at 134.55, whatever I will see first.




Reply With Quote
  #343  
Old 07-12-2017, 22:27
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We continue to look for resistance near 133.22 for more downside pressure towards 132.31 and the important support at 131.14, which needs to be broken to confirm wave (D) peaked with the test of 134.50 and wave (E) lower to the ideal target at 123.43 is developing.

Trading recommendation:
We are short EUR from 133.75 with stop placed at break-even.




Reply With Quote
  #344  
Old 07-12-2017, 22:29
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

GBP/JPY is expected to trade with a bullish outlook as the key support holds at 150.10. The pair is standing firmly above its horizontal support at 150.10, which should limit any downward attempts. The relative strength index is mixed to bullish, calling for caution. Therefore, the pair is more likely to trade sideways within the range between 150.10 and 151.85.
A technical rebound is expected towards 151.85, as long as 150.10 is not broken.
Alternatively, if the price moves in the direction opposite to the forecast, a long position is recommended above 150.10 with the target at 149.70

Strategy: BUY, Stop Loss: 150.10, Take Profit: 151.85
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 151.85, 152.40, and 153
Support levels: 149.70, 149.15, and 148.30




Reply With Quote
  #345  
Old 12-12-2017, 11:49
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The minor rally from 132.21 looks exhausted, but we need a break below minor support at 133.41 to confirm that a top is in place for renewed downside pressure towards 132.21 towards strong support at 131.14, that needs to be broken to confirm wave (D) completed with the test of 134.50 and wave (E) now is developing towards 123.43.
As long as minor support at 133.41 is able to protect the downside a final spike close to 134.05 can not be excluded, before turning lower again.

Trading recommendation:
We will sell EUR at 134.00 or upon a break below 133.41 with stop placed at 134.60.




Reply With Quote
  #346  
Old 14-12-2017, 16:52
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY is trying to push prices lower, but it is a harder fight than expected. None the less, we continue to look for more downside pressure and a break below minor support at 132.81 that will call for a decline to 132.21 and lower to important support at 131.14. A break below this later support is needed to confirm that wave (D) completed at 134.50 and wave (E) lower to the ideal target at 123.43 is developing.
Resistance is now seen at 133.62 and should be able to cap the upside, but only a break above resistance at 133.89 will be of concern.

Trading recommendation:
We are short EUR from 133.40 with stop placed at 133.95.




Reply With Quote
  #347  
Old 15-12-2017, 14:39
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY has broken below support at 132.81 as expected and should now continue to move lower towards important support seen at 131.14. This support still needs to be broken to confirm that wave (D) indeed completed with the test of 134.50 and wave (E) lower is developing for a decline towards the ideal target seen at 123.43.
Short-term resistance is now seen at 132.81.

Trading recommendation:
We are short EUR from 133.40. We will move our stop lower to 133.80.




Reply With Quote
  #348  
Old 19-12-2017, 20:18
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY is back testing the broken minor support-line, which now acts as resistance. This former support, now resistance, is expected to cap the upside for more downside pressure towards the pivot point at 131.14, which needs to be broken to confirm that wave (D) completed at 134.50 and wave (E) now is developing towards the ideal target seen at 123.43.
Short-term a break below minor support at 132.10 confirms more downside pressure towards 131.14.

Trading recommendation:
We are short EUR from 133.40 with stop placed at 133.80.




Reply With Quote
  #349  
Old 22-12-2017, 15:39
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
With the break above 134.50, more upside pressure towards the "old" (D)-wave target at 137.37 is expected. That said, we have to remember that we are in the final stages of this (D)-wave rally from 109.54, so don't fall in love with the EUR at these lofty levels.
Support is seen at 133.84 (has been tested) and again at 133.57, which should protect the downside for the next rally higher. Below 133.57 will be of concern and indicate a possible bull-trap above 134.50.

Trading recommendation:
We bought EUR at 134.10 with stop placed at 133.40.




Reply With Quote
  #350  
Old 27-12-2017, 18:30
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY has barely moved into a dull holiday Market. We continue to look for a final spike higher to 137.37 to complete wave (D) as long as minor support seen at 133.57 is able to protect the downside. From 137.37 or upon a direct break below 133.57 renewed downside pressure towards 131.14 is expected on the way towards the ideal (E)-wave target seen at 123.43.

Trading recommendation:
We are long EUR from 134.10 with stop+reverse at 133.55.




Reply With Quote
  #351  
Old 28-12-2017, 19:48
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY has seen a new high above 134.88 and more upside will remain expected as long as support at 134.17 is able to support EUR/JPY. The break above resistance seen at 134.50 calls for a possible move higher to 137.37 to complete wave (D) and set the stage for a final decline in wave (E) towards 123.43.
A direct break below 134.17 will indicate a top already is in place and the break above 134.50 was a bull-trap.

Trading recommendation:
We are long EUR from 134.10 and we will move our stop+revers higher to 134.10.




Reply With Quote
  #352  
Old 29-12-2017, 18:32
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
Here is the final update in 2017 and we continue to look for a final spike higher to 137.37 to complete wave (D) and set the stage for wave (E) lower towards the ideal target at 123.43.
The trading action since before Christmas has been very dull and nothing much is expected from this last trading day for 2017.

Trading recommendation:
We are long EUR from 134.10 with stop + reverse at 134.10.




Reply With Quote
  #353  
Old 03-01-2018, 21:32
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY will remain positive above minor support seen at 134.84 for more upside pressure towards 137.37 to complete wave (D). A break below support at 134.84 will be the first warning of possible exhaustion, while a break below support at 134.26 will confirm that wave (D) is completed and wave (E) towards 123.43 is now developing.

Trading recommendation:
We are long on EUR from 134.10 with stop placed at 134.75. We will also revers our bought position to a sell EUR position at 134.75.




Reply With Quote
  #354  
Old 05-01-2018, 20:06
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The lack of upside acceleration is of concern. It could just be a delay of the expected rally through resistance at 1.7064 for more upside pressure towards 1.7777. However, it could be a warning of upside exhaustion and that a deeper corrective pullback is needed. If this is the case, then support at 1.6805 will be broken soon for a decline towards 1.6140.

Trading recommendation:
Our stop at 1.6850 has been hit for a small loss of 23 pips. We will place a buy order at 1.6985 and a sell order at 1.6795




Reply With Quote
  #355  
Old 10-01-2018, 04:54
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY peaked at 136.64, just below the expected 137.37 target. The decline from 136.64 does look constructive and confirm our view that wave (D) was close to completion and wave (E) ready to take over for a decline towards 123.43.
Short-term the decline from 136.64 already look a bit stretched and a short-term snap-back close to 135.48 should not come as a surprise before renewed downside pressure is seen.

Trading recommendation:
Our stop+revers at 134.75 has been hit. This mean we booked a minor profit of 65 pips. Our new stop will be placed at 135.65.




Reply With Quote
  #356  
Old 11-01-2018, 05:13
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The decline from 136.64 has been strong and the pair is already testing the support at 133.89. A clear break below here will point lower to 132.21 as the next downside target. EUR/JPY will move lower as long as it stays below 134.58, while a break above this minor resistance will indicate that a corrective rally above 135.49 is developing, before declining again.
In the longer term, we are looking for the wave (E) lower to 123.43 to develop and complete the triangle consolidation, that has been developing since July 2008.

Trading recommendation:
We are short on EUR from 134.75. We will take half profit at 134.09 and a nice little 67 pips profit and lower our stop to 134.60 on the other half.




Reply With Quote
  #357  
Old 16-01-2018, 17:09
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We continue to regard the rally from 133.01 as corrective and is looking for a break below minor support at 135.36 and more importantly a break below support at 135.00 as confirmation that this correction has completed and a new decline 131.11 is developing.
At no point should a break above 136.64 be seen under this count.

Trading recommendation:
We are short EUR from 134.75 with our stop placed at 136.75. Upon a break below 135.00 we will lower our stop to 136.15.




Reply With Quote
  #358  
Old 18-01-2018, 15:14
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary
We see no reason to change our expectation of a resistance at 136.10 being able to cap the upside for a break below support at 135.00 for a decline to 131.11, from where a new corrective rally is expected.
short-term a break below minor support seen at 135.42 will indicate more downside pressure, but only a break below the pivot point at 135.25 will open up the downside.

Trading recommendation:
We are short EUR from 134.74 with stop placed at 136.75.




Reply With Quote
  #359  
Old 19-01-2018, 11:34
InstaForex's Avatar
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 3,308
Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
Of course the "top" at 136.10 needed to be broken slightly, the new corrective top has been seen at 136.31. This should do the job and complete the corrective rally from 133.01 and turn prices lower towards 131.11 as the next downside target.
Short-term a break below minor support at 135.42 will indicate wave B has completed and wave C lower is developing.

We are short EUR from 134.74 with stop placed at 136.75.




Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are Off
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Daily Technical Analysis dailyfxanalysis Forex Analysis 10 15-05-2013 10:27
Technical Analysis (Update Daily) alhadi Forex Analysis 0 13-09-2012 09:26
Daily Technical Analysis for Majors FxTT Forex Analysis 0 01-03-2012 07:50
Daily Technical Analysis Fri,January 27, 2012 fxpulsation Forex Analysis 0 27-01-2012 10:38
Daily Technical Analysis Thu,January 26, 2012 fxpulsation Forex Analysis 0 26-01-2012 12:47

Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.
» Forex Site.
Powered by vBadvanced CMPS v3.2.3

All times are GMT. The time now is 04:08.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2018, vBulletin Solutions, Inc.