MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of EUR/JPY for December 12, 2016

General overview for 12/12/2016:

The top for the wave (3) (blue) has been established at the level of 123.34 and now the market is in corrective cycle wave (4) (blue). The first wave of this correction has been completed with the low at the level of 120.89, but it looks like the correction might evolve to a more complex and time-consuming pattern like a triangle. Sideways price action between the level of 123.34 and 120.89 is currently expected until the correction is completed.

Support/Resistance:

123.34 - Intraday Resistance

121.93 - Intraday Support

121.38 - Weekly Pivot

120.89 - Intraday Support

119.40 - WS1

118,71 - Technical Support

Trading recommendations:

Day traders should consider opening only sell orders with SL just above the level of 123.34. TP Should be set at the bottom of the range.

analytics584ea1246f42c.jpg

The material has been provided by InstaForex Company - www.instaforex.com