USD Is Trading Higher Across The Board: USDJPY and USDCHF Wave Analysis

By: Gregor Horvat | Tue, Apr 7, 2015
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USDJPY is higher, trading in impulsive fashion so be aware of more gains after any short-term pullback. Based on latest structure and Fibonacci levels we could see a fourth wave retracement soon, back to around 119.70/119.90.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

Traders USD is showing gains across the board ahead of the US session, and I just noticed a five wave up on USDCHF. It looks like dollar trend might have started as a lot of USD pairs are pointing in to the direction of stronger US currency. On USDCHF we see wave (v) now of 1, so be aware of a short-term pullback in the next 24 hours before going even higher.

USDCHF 1h Elliott Wave Analysis

USDCHF 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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