Elliott wave analysis of EUR/JPY for August 25, 2017
Wave summary:
EUR/JPY is now testing the minor resistance-line from 131.40. This resistance-line might be able to hold back the rise of a minor corrective decline back to 128.38 before a new strong rally is expected this time for a clear break above this resistance-line and higher to 130.40 and 131.40 on the way higher towards 137.36.
R3: 131.40
R2: 130.40
R1: 129.50
Pivot: 129.14
S1: 128.90
S2: 128.38
S3: 128.27
Trading recommendation:
We are long EUR from 128.50 with stop placed at 127.75. If you are not long EUR yet, then buy near 128.38 and use the same stop at 127.75.
Elliott wave analysis of EUR/NZD for August 25, 2017
2017-08-25
Wave summary:
EUR/NZD is consolidating near minor resistance at 1.6348, but it should only be a matter of time before this resistance is cleared and the uptrend continues towards 1.6636 and 1.6969.
Short-term support is seen at 1.6288, which is expected to protect the downside for the next rally higher towards 1.6636.
R3: 1.6636
R2: 1.6536
R1: 1.6394
Pivot: 1.6300
S1: 1.6289
S2: 1.6247
S3: 1.6212
Trading recommendation:
We are long EUR from 1.6125 with stop placed at 1.6225. If you are not long EUR yet, then buy near 1.6289 and use the same stop at 1.6225.
Technical analysis of USD/JPY for Aug 25, 2017
2017-08-25
In Asia, Japan will release the SPPI y/y, Tokyo Core CPI y/y, and National Core CPI y/y data, and the US will release some Economic Data, such as Durable Goods Orders m/m, Core Durable Goods Orders m/m, and the Jackson Hole Symposium minutes. So, there is a probability the USD/JPY will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 110.21.
Resistance. 2: 110.00.
Resistance. 1: 109.78.
Support. 1: 109.52.
Support. 2: 109.30.
Support. 3: 109.09.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Technical analysis of EUR/USD for Aug 25, 2017
2017-08-25
When the European market opens, some Economic Data will be released, such as German Ifo Business Climate and German Final GDP q/q. The US will release the Economic Data, too, such as Durable Goods Orders m/m, Core Durable Goods Orders m/m, and the Jackson Hole Symposium minutes, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1853.
Strong Resistance:1.1846.
Original Resistance: 1.1835.
Inner Sell Area: 1.1824.
Target Inner Area: 1.1796.
Inner Buy Area: 1.1768.
Original Support: 1.1757.
Strong Support: 1.1746.
Breakout SELL Level: 1.1739.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Fundamental Analysis of EUR/GBP for August 25, 2017
2017-08-25
EUR/GBP non-volatile trend is still intact along the path towards 0.9270 resistance level. GBP has been very weak against EUR recently due to bad economic report and ECB not providing any support after the Brexit decision. Recently GBP Second Estimate GDP report was published which was unchanged as expected at 0.3% and Prelim Business Investment drastically decreased to 0.0% from the previous value of 0.6% which was expected to be at 0.2%. On the EUR side, recently Belgian NBB Business Climate report was published with a greater deficit at -2.1 from the previous figure of -1.5 which was expected to be at -1.6. Today EUR German IFO Business Climate report is going to be published which is expected to slightly decrease to 115.5 from the previous figure of 116.0 and German Final GDP is expected to be unchanged at 0.6%. To sum up, GBP is quite weak fundamentally but there is a chance of gain, If the economic reports of EUR comes worse than expected today then we might see gains on the GBP side in the coming days.
Now let us look at the technical view, the price is currently showing some bearish pressure which is expected to reach 20 EMA in the coming days before proceeding up higher towards 0.9270 resistance level. As the price remains above the 20 EMA with a daily close the bullish trend is expected to continue higher.
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