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  #21  
Old 29-08-2015, 04:12 AM
painofhell painofhell is offline
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General overview
The choppy and overlapping price action all around the hourly chart indicates a typical topping pattern in this pair. The bulls are exiting their long positions and the bears are tying to step in and push the prices in their favor. Nevertheless, there is still one more wave up missing to complete a possible ending diagonal cycle, but first, the intraday resistance at the level of 1.3352 must be violated.

Trading recommendations:
Daytraders should consider opening buy orders from the current price levels with SL below the level of 1.3179 and TP at the level of 1.3265

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  #22  
Old 02-09-2015, 01:17 AM
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General overview
The market is trading inside of a narrow range below the weekly pivot at the level of 136.50. The upside scenario is still possible, but first the weekly pivot and the intraday resistance at the level of 136.60 must be clearly violated in an impulsive fashion. Only then, wave (b) blue might hit the projected target at the level of 137.59. Otherwise, the market will continue to consolidate inside the bearish zone.

Trading recommendations:
Daytraders should consider opening buy orders only if the level of 136.60 is clearly violated (hourly candle close above the level) with SL just below the level of 135.23 and TP at the level of 137.60.

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  #23  
Old 03-09-2015, 04:25 AM
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Technical summary:
We continue looking for more upside as long as important support at 133.27 stays intact, but the short-term picture has become messy after the break below minor support at 135.23. The possible reason could be that a triangle is developing, but it is too early to tell. In the short term, a break above minor resistance at 136.24 will be needed to ease immediate downside pressure.

Trading recommendation: Stay neutral for now.

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  #24  
Old 04-09-2015, 08:18 AM
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General overview
The market is waiting for tomorrow's NFP data release. The ranges are the same as yesterday with the current price trading inside the bearish zone. The complex corrective structure looks completed now, but the upside is limited by the weekly pivot at the level of 136.50. Moreover, the top of the wave B had been established at the level of 138.94 according to this count, and the market should now continue the downside wave development in order to complete the wave C black.

Trading recommendations:
Daytraders should consider opening buy orders only if the level of 136.60 is clearly violated (hourly candle close above the level) with SL just below the level of 135.23 and TP at the level of 137.60.

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  #25  
Old 09-09-2015, 09:48 PM
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General overview
The level of 134.68 was violated, so the green impulsive count to the downside had been invalidated. The bottom for wave C black is now set at the level of 132.22. The current corrective structure labeled as abc purple might just be a part of a lager corrective (a)(b)(c) blue cycle with targets at the levels of 135.59 and 136.38.

Trading recommendations:
Sell orders from the level of 136.68 should still be in play with SL above the level of 135.10 and TP at the level of 134.25 and 133.50.

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  #26  
Old 10-09-2015, 11:02 PM
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General overview
As anticipated yesterday, the market has hit the intraday resistance at the level of 135.81 and the corrective structure to the upside might be completed now. Nevertheless, the correction might get more complex if the downward wave develops in a choppy fashion, full of whipsaws and false breakouts. The intraday support at the level of 134.25 is the key downside level downside.

Trading recommendations:
Daytraders should consideropening sell orders from the current price levels with SL just above the level of 135.81 and TP at the level of 134.25.

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  #27  
Old 11-09-2015, 04:54 AM
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Technical outlook and chart setups:
The EUR/JPY pair is trading around 135.50 and is quickly approaching the resistance levels of 136.40/50. Please note that 136.50 is fibonacci 0.618 resistance of a drop between 139.00 and 132.25. It is hence recommended to initiate 50% short positions now and remaining 50% at 136.40/50 with risk at 139.00. Immediate support is seen at the levels of 133.00 followed by 132.00 and lower while resistance is seen at 136.50 followed by 139.00, 140.00/141.00, and higher respectively.

Trading recommendations:
Initiate 50% short positions now and remaining at 136.50 with stop at 139.00 and target is open.

Good luck!



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  #28  
Old 11-09-2015, 09:22 PM
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Technical summary:
TA recent rally was more impulsive than we had expected. It is almost impossible to count the waves, and that does indicate that this is another X-wave rally and not the start of a new impulsive rally towards the territory above 141.06. Yes, we woul prefere to get closer to the descending channel (resistance line) near 138.50, but the rally from 132.19 is overextended and could need a correction soon.
In the short term, we will be looking for resistance at the levels of 137.41 - 137.02 for a break below minor support at 135.72 indicating a correction lower to 134.32 and even lower to 133.81 before the next move higher.

Trading recommendation:
We will sell EUR here at 136.30 with a stop at 136.75 and place take profit at 134.50.

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  #29  
Old 16-09-2015, 02:07 AM
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Technical summary:
An expected correction lower to 135.18 and possibly even lower to 134.04 is unfolding. That means X-waves do not have to be perfect three-wave corrections. Often, they are just as what we have seen in this cross and strong move where it is almost impossible to count the waves once the move is over, so is the x-wave and the next impulsive wave can take over to the downside. In the short term, we expect resistance at 136.41 to protect the upside for a decline to 135.18 and possibly even lower.

Trading recommendation:
We took profit at 50% of our short position from 136.41 at 135.65 and will move our stop lower to 136.45

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  #30  
Old 18-09-2015, 12:16 AM
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Technical summary:
A decline from 137.05 is performen in three waves and therefore more upside pressure is expected towards 138.25 where we the resistance-line of 141.06 is found. A movement back to a high of 141.06 and even higher to 143.90 should be expected.
Only if the resistance line near 138.25 is able to turn prices lower we should see a decline to 126.59 soon and maybe even lower.

Trading recommendation:
Our stop at 136.45 was hit for a very small loss. We will buy EUR at 135.75 with stop at 135.10

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