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  #261  
Old 31-05-2017, 08:19 AM
painofhell painofhell is offline
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Wave summary:
The decline from 125.81 has extended and a low does not yet seem to be in place, this calls for a little more downside to 123.02 and maybe even slightly closer to the invalidation point seen at 122.53. Should this support be broken, that would indicate that a more complex wave B correction is unfolding.
At this point, only a break above minor resistance, seen at 124.11, will ease the downside pressure, while a break above resistance at 124.65 will confirm that a new impulsive rally to above 125.81 is developing.

Trading recommendation:
Our stop at 123.20 was hit for a 100 pip loss. We will look to buy EUR again at 123.05 with stop placed at 122.50.

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  #262  
Old 03-06-2017, 12:27 AM
painofhell painofhell is offline
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Wave summary:
We are looking for more upside pressure towards at least 127.50 as wave C higher is unfolding. The ideal target for this rally in wave C is seen near 138.52.
Short-term, we expect minor support seen at 124.58 will be able to protect the downside for a break above resistance at 125.81 that confirms a continuation higher towards 127.50 and above.

Trading recommendation:
We are long EUR from 124.65 with stop placed at 124.10. If you are not long EUR yet, then buy near 124.58 and use the same stop at 124.10.

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  #263  
Old 09-06-2017, 05:21 AM
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Wave summary;
Important support at 122.53 protected the downside for a break above minor resistance seen at 123.55 indicating wave c had completed and wave d, of the expected triangle consolidation, now is unfolding. This should provide a rally higher to 124.63 in the coming days.
Short-term minor support seen at 122.97 should be able to protect the downside for the expected rally higher or a new test of important support at 122.53 will be seen.

Trading recommendation:
We bought EUR at 123.55 with stop placed at 122.85. Take profit will be placed at 124.50.

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  #264  
Old 10-06-2017, 02:49 AM
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Wave summary:
Important support at 122.53 is still holding firm and should continue to do so for a rally higher towards 134.62 to complete the wave d of the triangle consolidation. Once the wave d is complete a final dip in wave e should be seen before renewed upside pressure is seen through resistance at 125.31 for a rally towards 134.35.

Trading recommendation:
We are long EUR from 123.55 with stop placed at 122.45. Take profit is seen at 124.50

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  #265  
Old 14-06-2017, 05:49 AM
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Wave summary:
No change in view here. We are still looking for more upside in wave d closer to 134.62 before a final dip in wave e will be expected to complete the triangle consolidation and set the stage for the next rally higher to at least 134.58 and likely even closer to 138.52.
Only an unexpected break below support at 122.53 will invalidate the triangle count and call for another corrective pattern.

Trading recommendation: Our stop at 122.85 has been hit for a loss.

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  #266  
Old 15-06-2017, 08:46 AM
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Wave summary:
Not really much to add here. The triangle consolidation remains the preferred outlook. We continue to look for wave d closer to 134.62 before the final dip lower in wave e to complete the triangle consolidation, setting the stage for renewed upside pressure towards 134.58 and likely even closer to 138.52.
Only an unexpected break below 122.53 will shift to an alternate corrective structure.

Trading recommendation: We are neutral for now.

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  #267  
Old 16-06-2017, 07:55 PM
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Wave summary:
EUR/JPY took out support at 122.53 for a dip to 122.37. This minor break below 122.53 was enough to change the corrective pattern unfolding from 125.82. Instead of a triangle consolidation, the corrective pattern has turned into a flat correction with wave B complete with the test of 122.37 and wave C higher towards at least 133.34 now developing.
Short-term, we will likely see resistance near 124.05 holding for a minor set-back to 123.00 before strongly higher.

Trading recommendation:
Our stop at 122.45 was hit for a loss of 50 pips. We will buy EUR again at 123.25 or upon a break above 124.50.

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  #268  
Old 21-06-2017, 01:50 AM
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Wave summary:
The rally of 123.78 is in no way convincing and does look to be the b-wave of an expanded flat correction, This means wave c lower to 123.43 soon will be seen. A break below minor support at 124.20 will indicate wave c of ii lower to 123.43 is developing. Once this expanded flat is complete renewed strength towards 133.34 will remain expected.

Trading recommendation:
We are long EUR at 124.46. We will place our stop at 124.20 and take profit at 124.70. As we want to re-buy at 123.50.

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  #269  
Old 22-06-2017, 12:33 AM
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Wave summary:
The expanded flat correction in wave ii is unfolding as expected. Wave b did not make quite as high as expected and peaked at 124.65 before turning lower in wave c to 123.43 to complete wave ii and set the stage for the next strong rally higher in wave iii towards 133.34.

Trading recommendation:
Our stop at 124.20 was hit for a 26 pips loss. We will buy EUR again at 123.50 or upon a break break above 124.45.

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  #270  
Old Yesterday, 11:46 PM
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Wave summary:
We are still looking for a break above 124.46 to confirm the next impulsive rally higher towards at least 127.00 and possibly even closer to 129.10 in wave iii. Short-term support is seen at 123.99 and again at 123.79. Ideally the later will be able to protect the downside for the expected break above 124.46.

Trading recommendation:
We are long EUR from 124.46 with stop placed at 123.55. If you are not long EUR yet, then buy a break above 124.46 and use the same stop.

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