Eur Jpy Forex technical analysis forecasts May 2019

eur yen forecasts
forexgann

Eur Jpy Forex technical analysis forecasts

Eur Jpy Forex Technical Analysis forecasts through time cycles of W.D. Gann.

Eur Jpy Forex Technical Analysis
Euro Yen monthly 2019 febbruary

Eur Jpy Forex thecnical analysis medium term

The double minimum of May and August 2018 bode well for a mid-term structural pull-back for the Euro against the Yen.

The timeframe of the Minimum Square expired in October 2018, however, reversed the medium-term scenario: the inversion of the swing chart has brought the European currency back to a new corrective trend.

This trend has induced the Euro to test again the 1 X 4 ascending dynamic support in area 125 ( purple colored on the slide).

The subsequent monthly Set Up expired in January 2019 has definitively denied the attempt by the Euro to leave the area of ​​137, to establish a repetitive price alternation band that will act as an accumulation area.

In January the Euro reached a low of 118.89 to recover and finish in the dynamic support area at 124.61.

If prices reach 126.90 in February, a new positive lateral dynamics will be reestablished which will encounter several more visible obstacles in the quarterly time frame.

Eur Jpy Forex quarterly

forex forecasts
euro yen quarterly 2019 febbruary

The corrective force of the Euro in the first quarter of 2019 was blocked by the 1 X 4 angular support.

This violation also reversed the long term trend, thus placing the European currency in a medium-long term trading range.

The resistances are between 128.40 and 133 area. The next cyclical test to be observed will be the third quarter of 2019. Only the achievement of 133 area will be an indicative signal for a new positive turn of the Euro Yen market.

The Eur Jpy Forex analysis was illustrated using the Top Trader free software©.

 

Load More Related Articles
Comments are closed

Check Also

Books on online trading and Forex how to do trading using Gann’s technique

Books on online trading and Forex how to do trading using Gann’s technique Books on online…