General overview for 26/09/2013 16:00 CET
The count has been slightly changed with wave W black low being now a little lower after bigger wave (iv) correction.
Currently, the price is still in overlapping corrective mode of wave X black.
Last wave c to the upside is missing to complete Regular Flat Correction wave Y brown of X black.
Then more downside is expected to complete wave Y black of the whole corrective cycle wave 4 green.
When the corrective cycle is done, new highs in impulsive wave 5 green are anticipated.
Support/Resistance:
134.72 – 134.93 – SUPPLY ZONE
133.98 – Intraday Resistance
133.6 – Weekly Pivot
132.77 – WS1
132.62 – Techncal Support
Trading recommendations:
Bias is to the downside to complete wave Y black of wave 4 green so short positions should be in play from the level of 133.98 with SL just above this level. Potential TP levels are 132.77 and 131.75.
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Performed by Sebastian Seliga, Analytical expert InstaForex Group © 2007-2013 |
EUR/JPY H1 Analysis for September 26, 2013
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