Elliott wave analysis of EUR/NZD for October 8, 2018

Trading 07 oct 2018 Commentaire »

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There was no time for a correction and EUR/NZD is moving directly higher towards the next target at 1.8030. Support is now seen at 1.7800 and again at 1.7758, only a break below the later support will indicate a deeper correction towards 1.7643 unfolding, before the next advance towards the 1.8369 target.

R3: 1.8100

R2: 1.8030

R1: 1.7900

Pivot: 1.7800

S1: 1 7758

S2: 1.7692

S3: 1.7642

Trading recommendation:

We are long half a position from 1.7500 and we will move our stop higher to 1.7725.

The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/JPY for October 8, 2018

Trading 07 oct 2018 Commentaire »

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EUR/JPY once again made a new low at 130.60 for the correction from 133.13. Even though a new low was seen, the corrective decline from 133.13 should complete soon. The first good indication that the correction in blue wave (4) has completed will be seen when the minor resistance at 131.58 breaks, while a break above resistance at 131.98 will confirm, that blue wave (4) has completed and blue wave (5) is developing towards at least 133.85.

R3: 131.98

R2: 131.57

R1: 131.37

Pivot: 131.18

S1: 131.02

S2: 130.74

S3: 130.60

Trading recommendation:

Our stop at 130.65 was hit for a loss of 85 pips. We will buy EUR again at 130.70 or upon a break above 131.58.

The material has been provided by InstaForex Company - www.instaforex.com