Forex4you Technical Analysis 22 June 2011
Page 1 of 1
Forex4you Technical Analysis 22 June 2011
EUR/JPY: roll-over potential
The EUR/JPY has rolled-over and is descending quite rapidly. There is a chance the trend has changed and we are into Elliot wave 5 down from the 7th June highs. There is a support and resistance level at 114.90 and a point and figure target at 114.45 which could act as consolidation zones. Alternatively the up-trend may simply continue with the 0.1x3 point and figure chart supplying an upside target at 116.00 which has still not been achieved.
Belajar Forex
Analysis by: Joaquin Monfort
Forex4you analyst
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
The EUR/JPY has rolled-over and is descending quite rapidly. There is a chance the trend has changed and we are into Elliot wave 5 down from the 7th June highs. There is a support and resistance level at 114.90 and a point and figure target at 114.45 which could act as consolidation zones. Alternatively the up-trend may simply continue with the 0.1x3 point and figure chart supplying an upside target at 116.00 which has still not been achieved.
Belajar Forex
Analysis by: Joaquin Monfort
Forex4you analyst
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
namrata- Posts : 62
Join date : 2011-04-15
Similar topics
» Forex4you Technical Analysis 17 June 2011
» Forex4you Technical Analysis 14 June 2011
» Forex4you Technical Analysis 21 June 2011
» Forex4you Technical Analysis 20 June 2011
» Forex4you Technical Analysis 23 June 2011
» Forex4you Technical Analysis 14 June 2011
» Forex4you Technical Analysis 21 June 2011
» Forex4you Technical Analysis 20 June 2011
» Forex4you Technical Analysis 23 June 2011
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum