Elliott wave analysis of EUR/JPY for January 4, 2019
2019-01-04
There was no time for a correction towards 120.05. EUR/JPY just went straight higher towards minor resistance at 123.54 and important resistance seen at 125.80. A break above 123.54 will be the first good indication that a long-term low has been seen, while a break above the later, will confirm a long-term bottom has been seen and wave [C] to above 170.00 is developing.
Short-term support is now seen at 122.93 and then near 122.35.
R3: 124.38
R2: 123.86
R1: 123.54
Pivot: 122.93
S1: 122.54
S2: 122.35
S3: 121.92
Trading recommendation:
Our stop+revers at 122.50 was hit, which means we book a 372 pips profit and is now long EUR from 122.50. We have placed our stop at break-even at 122.50.
Technical analysis: Intraday levels for USD/JPY, January 04, 2018
2019-01-04
 In Asia, Japan will release the Final
Manufacturing PMI. A series of macroeconomic data is due in the US such as Crude Oil Inventories, Natural Gas Storage, Final Services PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY pair will trade with medium to high volatility during this day.
TODAY'S TECHNICAL LEVELS:
Resistance 3: 108.57
Resistance 2: 108.36
Resistance 1: 108.14
Support 1: 107.89
Support 2: 107.67
Support 3: 107.46
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 GBP/JPY for January 4, 2019
2019-01-04
There was no time for a corrective decline to 132.78 before the next raly higher. GBP/JPY rallied directly above resistance at 134.62 indicating, that a long-term bottom is in place. Now we would like to see a break above resistance at 137.74 as the next strong indication that a long-term low is in place.
Support is now seen at 136.35 and again at 135.66 where solid short-term support is spotted.
R3: 138.51
R2: 138.08
R1: 137.74
Pivot: 136.58
S1: 136.23
S2: 135.66
S3: 135.20
Trading recommendation:
We bought GBP at 134.65 and we will place our stop at 135.50.
Technical analysis: Intraday levels for EUR/USD, January 04, 2018
2019-01-04
When the European market opens, some economic data will be released such as Italian Prelim CPI m/m, PPI m/m, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Final Services PMI, German Unemployment Change, German Final Services PMI, French Final Services PMI, Italian Services PMI, Spanish Services PMI, and French Prelim CPI m/m. The US will provide data of major importance such as Crude Oil Inventories, Natural Gas Storage, Final Services PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, amid a heavily loaded economic calendar, EUR/USD will trade with medium to high volatility during this day.
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1461.
Strong Resistance:1.1454.
Original Resistance: 1.1443.
Inner Sell Area: 1.1432.
Target Inner Area: 1.1405.
Inner Buy Area: 1.1378.
Original Support: 1.1367.
Strong Support: 1.1356.
Breakout SELL Level: 1.1349.
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 for EUR/USD for January 4, 2019
2019-01-04
EUR/USD remains trapped inside the trading range of 1.1475 and 1.1290. No real progress has been made the last couple of months. I believe there are more chances of an upward break out and a move towards 1.17 at least if not higher.
Red dots - major strength resistance
Blue dots - medium strength support
EUR/USD has been giving false signals with slight higher highs or lower lows for the last few weeks hitting stops and doing everything it can to throw out most short-term traders. In reality has not moved at all as can be seen in the chart above. A clear break and close above 1.1475 would open the way for 1.17. A clear break down below 1.1290 would open the way for 1.11. The bullish divergence in the RSI in the Daily chart makes me favor the bullish scenario.
Technical analysis for Gold for January 4, 2019
2019-01-04
Gold price remains in a bullish trend. Gold price has reached very close to our last target of $1,300 and I prefer to exit longs and take profits at current levels. Gold price is at overbought levels. There are important short-term indicators showing a pull back will come soon.
Black lines - resistance trend lines
Green line - major trend line support
Gold price has respected the long-term support green trend line. The weekly RSI is now challenging important resistance trend line, while the next major trend line resistance in Gold is at $1,360. Currently trading just below $1,300, the short-term indicators point to a pull back but not lower than $1,240. Gold price should pull back towards $1,270-80 before continuing higher.
Author's today's articles:
Torben Melsted
 Born in November 1962. Graduated from CBS, got Diploma in Finance. Began trading on Forex in 1986 and since that time held various positions such as advising clients, hedging client flows on FX and commodity markets. Also worked for major corporations as Financial Risk Manager. Uses Elliott wave analysis in combination with classic technical analysis, and has been using a Calmar Ratio of 5.0 for over 3 years. Has his own blog, where he uses Elliott wave and technical analysis on all financial markets.
Arief Makmur
 Born May, 15th/1970 at Jakarta; Graduate from Trisakti University in 1998 at Major Corporate & Bussiness Law. Starting in Finance World in 1998 at Jakarta Stock Exchange & Familliar with Forex Market since December 2003.
Alexandros Yfantis
 Alexandros was born on September 14, 1978. He graduated from the ICMA Centre, University of Reading with the MSc in International Securities, investment and Banking in 2001. In 2000, Alexandros got the BSc in Economics and Business Finance from Brunel University, UK. In 2004, he began trading on the Greek stock market, where Alexandros got a specialization in international derivatives. Alexandros Yfantis has worked in a top financial company in Greece, responsible for the day-to-day running of the International markets department. He is a certified Portfolio Manager and a certified Derivatives Trader. Alexandros is also a contributor and analyst using Elliott wave and technical analysis of global financial markets. In 2007, he started Forex trading. He loves his profession and believes that entering a trade should always be accompanied by money management rules. His goal is to find profitable opportunities across the markets while minimizing risk and maximizing potential profit. "I'm still learning" Michelangelo
Subscription's options management Theme's:
Fundamental analysis, Fractal analysis, Wave analysis, Technical analysis, Stock Markets
Author's :
Alexandros Yfantis, Arief Makmur, Dean Leo, Michael Becker, Mohamed Samy, Mourad El Keddani, Petar Jacimovic, Rocky Yaman, Sebastian Seliga, Torben Melsted
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