2017-09-14
In Asia, Japan will release the Revised Industrial Production m/m and the US will release a series of economic reports such as Natural Gas Storage, Unemployment Claims, Core CPI m/m, and CPI m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Resistance 3: 111.21.
Resistance 2: 110.99.
Resistance 1: 110.70.
Support 1: 110.50.
Support 2: 110.28.
Support 3: 110.07.
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 Sept 14, 2017
2017-09-14
When the European market opens, some economic data is due today such as French Final CPI m/m. The US will present its statistics such as Natural Gas Storage, Unemployment Claims, Core CPI m/m, and CPI m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1945.
Strong Resistance:1.1938.
Original Resistance: 1.1927.
Inner Sell Area: 1.1916.
Target Inner Area: 1.1888.
Inner Buy Area: 1.1860.
Original Support: 1.1849.
Strong Support: 1.1838.
Breakout SELL Level: 1.1831.
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.
Elliott wave analysis of EUR/JPY for September 14, 2017
2017-09-14
Wave summary:
As long as support at 129.35 is able to protect the downside, as long will we be looking for more upside pressure towards 134.80 and ideally a continuation higher to the ideal wave (D) target at 137.36. Only an unexpected break below support at 129.35 will indicate that wave (D) has completed early and wave (E) already is developing.
R3: 132.67
R2: 132.19
R1: 132.00
Pivot: 131.50
S1: 131.00
S2: 130.85
S3: 130.65
Trading recommendation:
We are long EUR from 130.10 with stop placed at 130.65. Take profit is placed at 137.15.
Elliott wave analysis of EUR/NZD for September 14, 2017
2017-09-14
Wave summary:
Red wave iv ideally completed with the test of 1.6327 and red wave v to above 1.6690 should be developing. A firm break above minor resistance at 1.6488 and more importantly a break above resistance at 1.6569 will confirm that wave iv has completed and red wave v higher is developing for a rally towards 1.6883.
R3: 1.6624
R2: 1.6569
R1: 1.6522
Pivot: 1.6488
S1: 1.6395
S2: 1.6327
S3: 1.6309
Trading recommendation:
We bought EUR at 1.6395 and we have placed our stop at 1.6295. If you are not long EUR yet, then buy EUR upon a break above 1.6488 and use the same stop at 1.6290.
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