FOREX COMMODITES ANALYSIS

2018-10-24 04:44:54 UTC+00

Elliott wave analysis of EUR/JPY for October 24, 2018
EUR/JPY dipped to 128.21 but stayed above the important support level at 127.86 before turning higher again. The very deep correction in blue wave (2) is of concern, but as long as support at 127.86 is untouched, we will remain long-term bullish and look for confirmation that blue wave (2) has completed and blue wave (3) towards 136.75 is developing. Only an unexpected break below 127.86 will force us to revive our bullish stand. A break above resistance at 130.16 will confirm that blue wave (2) has completed and blue wave (3) is developing.
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2018-10-23 23:24:25 UTC+00

EUR: Investor confidence may decline amid the actions of Italian authorities
Yesterday's statements by the Italian authorities led to a sharp decline in the demand for risky assets, as the aggravation of the political crisis in the EU by the Italian authorities could have a serious impact on investor confidence
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2018-10-23 23:11:44 UTC+00

GBP/USD: plan for the US session on October 23. The pound is not supported by the buyers
It is best to count on long positions after the formation of a false breakdown in the support area of 1.2970, which may occur after the speech of the Governor of the Bank of England Mark Carney
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