2018-04-13
In Asia, Japan today will not release any Economic Data, but the US will release some Economic Data such as Prelim UoM Inflation Expectations, JOLTS Job Openings, and Prelim UoM Consumer Sentiment. So there is a probability the USD/JPY will move with a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 107.96.
Resistance. 2: 107.75.
Resistance. 1: 107.54.
Support. 1: 107.28.
Support. 2: 107.07.
Support. 3: 106.86.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or 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: Intraday Level For EUR/USD, April 13, 2018
2018-04-13
When the European market opens, some Economic Data will be released such as Trade Balance and German Final CPI m/m. The US will release the Economic Data too, such as Prelim UoM Inflation Expectations, JOLTS Job Openings, and Prelim UoM Consumer Sentiment, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.2389.
Strong Resistance:1.2382.
Original Resistance: 1.2370.
Inner Sell Area: 1.2358.
Target Inner Area: 1.2329.
Inner Buy Area: 1.2300.
Original Support: 1.2288.
Strong Support: 1.2276.
Breakout SELL Level: 1.2269.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or 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 April 13, 2018
2018-04-13
A final spike closer to 132.82 remains expected before renewed downside pressure is expected.
Short-term, we will remain cautiously bullish for the spike to 132.82 as long as minor support at 131.75 is able to protect the downside, but from 132.82 or upon a break below minor support at 131.75 a new impulsive decline towards 128.93 and lower is expected.
R3: 133.39
R2: 132.82
R1: 132.62
Pivot: 132.05
S1: 131.75
S2: 131.65
S3: 131.65
Trading recommendation:
We are long EUR from 130.70. We will raise our stop+reverse to 131.70. Our take profit+reverse remains at 132.65
Elliott wave analysis of EUR/NZD for April 13, 2018
2018-04-13
EUR/NZD was even more bearish than we expected in the short-term and wave iii/ has extended lower to 1.6689. We are looking for a more substantial, but likely complex correction in wave iv/ towards 1.6860 before lower in wave v/ towards 1.6620 where a bottom could be found.
We say a bottom could be seen near 1.6620 as a more bearish count could be in play and in that case, a much deeper decline should be expected closer to 1.6197, but for now, we are only looking for a decline closer to support at 1.6620.
R3: 1.6860
R2: 1.6793
R1: 1.6737
Pivot: 1.6696
S1: 1.6620
S2: 1.6580
S3: 1.6518
Trading recommendation: Our stop at 1.6770 was hit for a nice profit 130 pips. We will sell EUR again at 1.6845.
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