Page 4 of 26 FirstFirst ... 2345614 ... LastLast
Results 31 to 40 of 252
  142 142 Attachment(s)    

Thread: Technical analysis of EUR/JPY By Instaforex

  1. #31
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 6, 2014 By Instaforex

    General overview for 06/10/2014
    This market still looks like it is making another false breakout to the upside in the mid-term basis but the lower time frame wave development hasn't really confirmed this view. There are too many possibilities to anticipate with the decent degree of probability what the next market move will be. The longer-term trend is still bullish and the current market behavior is very much similar to some kind of a very complex and time-consuming corrective cycle, possibly in wave 2 of a larger time frame degree. Nevertheless, to intraday analysis indicates a possible bottom in this market, labeled as wave B, but as long as the intraday resistance at the level of 137.93 is not broken, the bullish impulsive wave progression remains in question.

    Trading recommendations:
    Daytraders should pay attention to the mentioned key level as any breakout higher would provide a great opportunity for a buy side trade with SL below the level of 136.85.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  2. #32
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 7, 2014 By Instaforex

    General overview for 07/10/2014
    The market keeps trading in very narrow range zone between the levels of 136.86 - 1137.94 and only a clear breakout either up or down will give more clues about further wave progression. Please note that despite the bottom for wave B, the market still did not really developed any impassive progression to the upside and this might turn our short-term bias to more bearish one.

    Trading recommendations:
    Market range trading still did not change the outlook and daytraders should pay attention to the mentioned key level as any breakout higher would provide a great opportunity for a buy side trade with SL below the level of 136.85.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  3. #33
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 9, 2014 By Instaforex

    General overview for 09/10/2014
    The corrective cycle in wave B (or alt2)) has completed sooner than expected and not the first indication of an impulsive wave progression to the upside is present. The key level for this scenario is the supply zone at the level of 137.93 and only a clear valid breakout higher would mean that market behavior has changed and now higher prices can be seen. Otherwise, this progression can be still seen as part of a bigger corrective cycle. Please note that this pair has broken out of the golden channel, which is a first bullish indication supporting my view.

    Trading recommendation

    As long as the price stays above the level of 137.14, only buy orders should be opened with the potential TP at the level of 137.93 and above.

    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  4. #34
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 10, 2014 By Instaforex

    General overview for 10/10/2014
    After breaking above the golden channel, the market has been capped right on the supply zone, marked on chart as the grey rectangle, and reversed. Currently, if the market breaks below the last swing low at the level of 136.55, then the whole impulsive count is invalidated and lower levels should be expected including another test of the level of 135.81. Moreover, it will mean that the price is back to the larger time frame range zone and latest price rally, marked on chart as wave (1) purple, has been a false breakout rally.

    Trading recommendations: As the outlook is not very clear at the moment, please refrain from trading until clear pattern emerges.
    Technical analysis of EUR/JPY By Instaforex-1412919053_eurjpy_h1-jpg

  5. #35
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 13, 2014 By Instaforex

    General overview for 13/10/2014
    After recent impulsive count invalidation due to wave 1 and wave 2 overlap, the count has been re-visited, updated and re-labeled. The current situation is still not very clear as it looks like the market has returned to the range zone and the complex and time-consuming corrective cycle from the wave 1 purple top at the level of 145.67 has not been completed yet. After making a false breakout to the upside in wave (X) brown, the price retraced all of the advance and now is trading even below the important level of long-term support at 135.75. The trading conditions might get worsen in terms of whipsaws and false breakouts as the next wave of corrective cycle is coming - wave B black - and this wave is usually the hardest to trade. Nevertheless, there is still one more wave to the downside is missing, wave C black, and only when this last wave is completed, the market will be ready to resume the uptrend.

    Trading recommendations:
    The daytraders should consider opening buy orders only if the level of 136.55 is clearly broken with SL below the level of 135.55 and TP at the level of 137.04 with a possible extension to the level of 137.93.

    Technical analysis of EUR/JPY By Instaforex-eurjpy_h44-jpg

  6. #36
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 14, 2014 By Instaforex

    General overview for 14/10/2014
    Yesterday's intraday resistance at the level of 136.55 has held the rally and the market has reversed from this resistance level and made new low. This is why the count has been slightly changed to extend the last wave Z brown a little more to the downside before the bounce in Wave B black will begin. Please notice the building bullish divergence on awesome oscillator that supports the view, that this market is about to rebound.

    Trading recommendations:

    Yesterday's advise to buy only if the level of 136.55 is clearly broken, worked as planned as the market wasn't strong enough to breakout above it, so the only reasonable way to trade was to open a short order. Currently more selling pressure is expected as well and the intraday target is at the level of 134.62.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  7. #37
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 15, 2014 By Instaforex

    General overview for 15/10/2014
    The situation hasn't changed much since yesterday as the market keeps making lower lows and lower highs. This might mean, that after completing the internal corrective sub-wave b purple, the golden trendline will be broken and the last wave c purple will be finally made. The projected target level is still the same at the level of 134.66 and a rebound is being expected from this level. The bullish divergence on the awesome oscillator supports the view.

    Trading recommendations:
    Daytraders should wait if the golden trend line is broken, and then open sell orders with SL above the level of 136.05 and TP at the level of 134.66.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  8. #38
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 16, 2014 By Instaforex

    General overview for 16/10/2014
    The corrective cycle in wave b purple has been little longer than previously thought, but there is still one more wave to the downside missing to complete the overall bigger cycle. The current price action is full of fake breakouts but as long as the level of 136.21 is providing the resistance, the bias is bearish and sooner or later one more leg to the downside will be made.

    Trading recommendations:
    Please refrain from trading until a clear pattern emerges.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  9. #39
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 17, 2014 By Instaforex

    General Overview for 17/10/2014
    The wave A black has been finally completed and the projected target level has been hit and even broken to the downside before the market has bounced upwards. Nevertheless, the key level has still not been violated and the market is still trading below the weekly pivot at the level of 136.30. Only a breakout higher above this area would be considered as a bullish clue, but please remember that the market is still inside of the larger time frame corrective structure (either triangle or zig-zag) and price action might get very choppy and full of whipsaws. Only a breakout below the level of 134.11 invalidates this slightly bullish view.

    Trading recommendations:
    As long as the market stays below the level of 136.55 only sales should be considered, but any breakout above this level is bullish.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  10. #40
    Banned
    Join Date
    Aug 2014
    Posts
    924

    Default Technical analysis of EUR/JPY for October 20, 2014 By Instaforex

    General overview for 20/10/2014
    The first resistance level has been broken and price has made a higher high on the intraday chart. The most important level right now is the narrow supply zone between the levels of 137.77 - 137.94 and any breakout higher confirms further upward price progression in wave B black. On the other hand, it looks like the weekly pivot will play a key role in intraday developments and a possible bounce and rebound is expected on that level. Only a breakout below weekly pivot should be considered as intraday bearish.

    Trading recommendations:
    As long as the price trades above the level of 135.99 the intraday uptrend is intact and higher prices are expected here. Please notice that this is wave B in the making so trading conditions might get choppy but overall buying the dips is the way to trade this market.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

Similar Threads

  1. Technical analysis of GBP/JPY By Instaforex
    By painofhell in forum Technical analysis
    Replies: 6
    Last Post: 05-15-2015, 18:05
  2. Technical analysis of USD/CAD By Instaforex
    By painofhell in forum Technical analysis
    Replies: 124
    Last Post: 05-15-2015, 13:01
  3. Technical analysis of USD/CHF By Instaforex
    By painofhell in forum Technical analysis
    Replies: 3
    Last Post: 01-29-2015, 20:23
  4. Technical analysis of USD/JPY By Instaforex
    By painofhell in forum Technical analysis
    Replies: 2
    Last Post: 12-10-2014, 17:04
  5. Technical analysis of GBP/CHF By Instaforex
    By painofhell in forum Technical analysis
    Replies: 1
    Last Post: 12-03-2014, 17:17

Tags for this Thread

abc, analysis, breakout, candle, change, channel, closing, color, divergence, elliott wave, eur, eurjpy, high, indicator, instaforex, intraday, japan, level, low, main, news, oscillator, pivot, price action, profit, profitable, resistance, rsi, sales, scalping, short term, signal, simple, stop, strategy, support, technical analysis, test, time, trading, trend

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •