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The Brexit classic

July 04, 2019

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Elliott wave analysis of EUR/JPY for April 25, 2019

EUR/JPY continues to push lower indicating that a more complex wave ii correction is developing. This suggests the more downside pressure towards the support area between 123.85 - 124.05 before the wave ii completes and the wave iii goes up towards at least 132.49. Only a direct breakout above minor resistance at 125.58 will indicate that the wave ii has completed and the wave iii is developing. R3: 126.00 R2: 125.58 R1: 125.25 Pivot: 125.10 S1: 124.80 S2: 124.50 S3: 124.05 Trading recommendation: Our stop at 125.25 has been hit, for a small loss. We will re-buy EUR at 124.05 or upon a breakout above 125.58. The material has been provided by InstaForex Company - www.instaforex.com

Forecast for EUR/USD on April 25, 2019

EUR/USD Yesterday, the euro fell by 74 points, reaching the initial goal of 1.1155 - the Fibonacci level of 110.0%. The convergence of prices with the marlin oscillator on the H4 chart is currently not pronounced, indicating a possible continuation of the downward movement. The next target is the Fibonacci level of 123.6% at a price of 1.1075. The euro's fall was partly due to the decline in the index of business sentiment in Germany in April from 99.7 to 99.2. Today, there are data on durable goods orders in the US for March, the forecast for which is 0.7% versus -1.6% in February, but since the euro's significant decline happened yesterday, investors can wait a bit for the main indicators of US GDP for the 1st quarter, which will be published tomorrow. That is, today we will observe a sideways trend amid a test of the weak convergence on H4. The material has been provided by InstaForex Company - www.instaforex.com

Burning forecast 04.16.2019 EURUSD

There is a lull in the economic news. The market is waiting for the Fed report on Wednesday evening (Beige Book) The euro keeps growing. We keep buying from 1.1250 - the first target is 1.1450. Cancel growth - the euro's decline to 1.1200. Alternative: a fall below 1.1180 - get up from this level and sell. The material has been provided by InstaForex Company - www.instaforex.com

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The Brexit classic

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