General overview for 04/09/2015 11:00 CET
The latest bullish count labeling did not do well as the new low had been reached before wave b green unfold. So, let's just take a look at a higher cycle labeling to indicate a possible target for the recent market decrease. The 61%Fibo support is seen at the level of 131.92, 66%Fibo support is seen at the level of 131.09 and both of this levels correspond to the 1-to-1 geometry range ( orange rectangle). This zone might be then the target for wave C and a possible upside rebound form the zone is currently expected.
Support/Resistance:
131.92 - 61%Fibo
131.09 - 66%Fibo
131.75 - Technical Support
Trading recommendations:
Swingtraders should close their sell orders in the support zone between the levels of 131.92 and 131.09.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for September 4, 2015 . Thanks for your support.
No comments:
Post a Comment