GBP/JPY has finally broken above key resistance at 133.19 making this count our preferred count. In the short-term, we see solid resistance at 135.10 that will be able to cap the upside temporary for a corrective dip to 133.75 before pushing higher again through resistance at 135.10 towards 141.06....
Key-resistance at 133.19 remains untouched which keeps this count as the alternate count. We believe that it is just a matter of time before the real test and likely break above key-resistance at 133.19 occur. Once broken that will call for a continuation higher to 135.00 and to 141.06. In the...
Minuette operational scale (H4)
What will the main cross-tools offer us at the beginning of summer? Options for the development of the EUR/GBP & GBP/JPY & EUR/JPY movement in the H4 timeframe from May 29, 2020.____________________
Euro vs Great Britain pound
Starting May 29, 2020, the...
EUR/USDAnalysis:The upward wave from September 3 to the present time demonstrates the completeness of its structure. The price has reached the lower limit of the wide potential reversal zone. In the last 3 days, the price moves down, forming a correction of the last part (C). The price is in the...
The break back below short-term key support at 142.41 confirmed that wave b completed already with the test of 144.36 and wave c lower now is unfolding for a decline to to the 137.31 - 137.57 area to complete wave iv or at least the first part of a more complex correction in wave iv. Short-term...
GBP/JPY continues to follow the expected path. We are currently in wave b of a zig-zag correction. We know the corrective formation must be a zig-zag as the decline from 147.96 to 141.14 (wave a) was in five waves. The current contra rally is wave b and it will ideally stall at the 61.8% corrective...
We have already seen the expected corrective decline to 142.39. GBP/JPY should be ready to challenge the upside again. We expect a rally above 143.43 that will confirm a continuation of the upside movement to 145.36 in order to complete wave b on the ongoing a-b-c correction. The correction is...
GBP/JPY continues following the expected path higher in wave b. When the wave was completed just below our expected target-zone between 141.36 - 141.42 (the low was seen at 141.14), GBP/JPY moved higher. The corrective rally took over wave b. The ideal target for this b wave is seen at 145.36. From...
Trading RecommendationEntry: 142.875 Reason for Entry: breakout levelTake Profit : 1.27253Reason for Take Profit: 38.2% Fibonacci retracement, horizontal swing low support Stop Loss: 144.223Reason for Stop loss:Horizontal swing high resistance, 61.8% Fibonacci retracementThe material has been...
Trading Recommendation
Entry: 142.875 Reason for Entry: breakout level
Take Profit : 1.27253Reason for Take Profit: 38.2% Fibonacci retracement, horizontal swing low support
Stop Loss: 144.223Reason for Stop loss:Horizontal swing high resistance, 61.8% Fibonacci retracementThe material has been...
