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  #291  
Old 22-09-2017, 11:03 PM
painofhell painofhell is offline
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Wave summary:
EUR/JPY is fighting to maintain the rally in wave D intact, but obviously it's becoming quite a struggle. However, as long as minor support at 133.24 is holding firm, the uptrend remains firmly in place for a possible push higher to 134.80 and 136.14 on the way towards the ideal wave D target at 137.36.
If however support at 133.24 is broken, that will weaken the uptrend and call for a decline to at least 132.00, before the possibility of a new rally higher.

Trading recommendation:
We are long EUR from 131.76. We will lift our stop to 133.15. We will take half profit at 134.80.

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  #292  
Old 29-09-2017, 06:33 AM
painofhell painofhell is offline
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Wave summary:
We continue to look for wave B to move closer to resistance in the 133.05 - 133.38 area. From here wave C lower is expected towards at least 130.56 and possibly even lower to near 128.00.
Short-term a break above minor resistance at 132.75 will confirm the expected corrective rally to the 133.05 - 133.38 area.
On the other hand, a break below minor support at 132.04 will indicate that wave B completed prematurely and the decline towards at least 130.56 already is developing.

Trading recommendation:
We will sell EUR at 133.00 or upon a break below 132.04.

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  #293  
Old 05-10-2017, 02:51 AM
painofhell painofhell is offline
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EUR/JPY has been quite volatile recently after bouncing off the 134.40 resistance level. The bullish trend was quite impressive before the price countered with bearish intervention to push the price lower. Today, a series of economic reports was published in the eurozone which helped the currency to gain consistent momentum over JPY throughout the day. Today, Spanish Services PMI report was published with an increased figure at 56.7 from the previous figure of 56.0 which was expected to be at 55.5, Italian Services PMI report was published with a decrease to 53.2 from the previous figure of 55.1 which was expected to be at 54.8, French Final Services PMI was published with a slight decrease to 57.0 which was expected to be unchanged at 57.1, German Final Services PMI report was published as expected with an unchanged figure at 55.6, and the eurozone's Final Services PMI report was published with a slight increase to 55.8 which was expected to be unchanged at 55.6.

Now let us look at the technical chart. The price is currently residing inside a tight corrective range which is expected to break higher towards 134.40 resistance level again. After the bearish impulsive pressure, the price seems to get some barriers to proceed much downward which is indicating that the strength of bears is not quite strong to push the price much lower. As the price remains above the dynamic level of 20 EMA and 131.40 support level, the bullish bias is expected to continue further.

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  #294  
Old 07-10-2017, 12:37 AM
painofhell painofhell is offline
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Wave summary:
We have seen the expected break below support at 132.16, that confirms more downside pressure towards at least 130.37 and possibly even directly lower. We are currently in wave (E) of a huge triangle consolidation dating back to July 2008 and this (E) has a lot more room to cover to the downside. Ideally, it will complete near 117.72, but then we have to be aware that (E)-waves can be sub-normal and end prematurely.

Trading recommendation:
We are short EUR from 133.00. We will move our stop lower to 132.85. If you are not short EUR yet, then sell near 132.20 or upon a break below 131.81 for a decline to 130.37.

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  #295  
Old 13-10-2017, 02:34 AM
painofhell painofhell is offline
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Wave summary:
EUR/NZD continues to rally nicely and as expected. We expect minor support at 1.6648 will be able to protect the downside for the next rally higher to 1.6824 that should complete red wave iii/ and set the stage for a shallow sideways consolidation in red wave iv/ before moving higher towards 1.7005 in red wave v/.

Trading recommendation:
We are long EUR from 1.6365 and will move our stop higher to 1.6600.

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  #296  
Old 13-10-2017, 09:49 PM
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Wave summary:
We continue to look for more downside pressure towards at least 130.73 and possibly deeper. A break below minor support at 132.43 will confirm the expected decline in wave C to at least 130.73.
Short-term minor resistance is seen at 133.12, which ideally will cap the upside for the break below 132.43.

Trading recommendation:
We are short EUR from 132.65 with stop placed at 134.45. If you are not short EUR yet, then sell near 133.12 and use the same stop at 134.45.

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