USDCHF and USDJPY Intraday: Elliott Wave Analysis

By: Gregor Horvat | Fri, Jul 4, 2014
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USDCHF now also in fifth wave, heading up to 0.8960, short-term resistance that may cause a temporary reversal down for an a)-b)-c) pullback. After that pullback we will be looking straight up, probably next week.

USDCHF 1h Elliott Wave Analysis

USDCHF 1-Hour Elliott Wave Analysis Chart

USDJPY is reversing from 102.30 resistance where we suspect that market completed a five wave rally up in A. We know that after every five waves correction follows, so ideally pair is in three wave retracement back to 101.860/101.90 area where set-back may find a base and then send prices up in wave C.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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