Elliott wave analysis of EUR/JPY for February 6, 2018 888011000 110888 < imgwidth=”450 “src=”http://qkfx.com/wp-content/uploads/2018/02/elliott-wave-analysis-of-eur-jpy-for-february-6-2018.png” alt=”analytics5a793fe042862.png”/ >Wave summary: The strong decline from 137.50 confirms that the wave( D) finally has peaked and the wave( E) lower to the ideal target at 123.43 now is establishing.In the short-term, we will be lookingfor a corrective rally to 135.31 and likely even closerto 135.73 prior tothe next strongdecrease to 131.24 starts.R3: 135.73 R2: 135.31 R1: 134.80 Pivot: 134.20 S1: 133.96 S2: 133.62 S3: 133.01 Trading recommendation: We sold EUR at 137.30. We will reserve half profit here at 134.70 for a nice fast profit 260 pips. We will sell EUR again at 135.60 and position our stop at 137.00 for the rest of our position. The product has been supplied by InstaForex Business-www.instaforex.com

Leave a Reply

Your email address will not be published. Required fields are marked *