Today's Support and Resistance levels:
R3: 133.21
R2: 132.69
R1: 132.17
Current Spot: 131.88
S1: 131.42
S2: 130.96
S3: 130.57
Technical summary: The pair continues to trade around the triangle resistance line. However, the important support at 131.42 is still intact and should continue to hold for a break above minor resistance at 132.17 and more importantly a break above 132.69, which confirms a new rally towards 133.48 and higher towards 134.95 and 137.45. It indicates that we have to be aware that a break below the important support at 131.42 will be very frustrating to our overall bullish picture and will call for the possibility of considerable downside pressure and indicate that the correction from the May 22 high at 133.81 is not over yet.
Trading recommendation: Stay long in EUR with a stop at 131.40. If you are not long in EUR yet, then buy upon a break above 132.17 with the same stop at 131.40.
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Elliott Wave Analysis is really difficult to do. I have tried for so many times to learn it properly so that I can move more easily in Forex trading. But after getting failed so many times, now I do follow my broker OctaFx's given technical analysis to do my trading.
উত্তরমুছুনElliott Wave এনালাইসিস টা ফরেক্স ট্রেডিংয়ের জন্য খুবই দরকারী। এটা বুঝতে পারলে খুব সহজেই ফরেক্স মার্কেটে ট্রেড করে প্রফিটস করা সম্ভব। যদিও আমি নতুন, তাও চেষ্টা করতেসি অনলাইন মাধ্যম থেকে পড়াশুনা করে Elliott Wave শিখে নেওয়া। পাশাপাশি OctaFX এর সাথে ট্রেড করতেসি আজকে বেশ কিছুদিন। ভালই সাপোর্ট পাচ্ছি..
উত্তরমুছুনEur/Jpy is one of my favorite currency pairs and the reason is that I love doing scalping and this pair suits it perfectly. I have been doing scalping for almost 2 years now with OctaFX broker and their conditions allow me to make profits almost all the time. They have great rebate where we can earn up to 15 USD per lot size trading, it is equal to 50-60% of the spread that is charged on the pairs and also have very supporting customer stuff!
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