EURUSD and USDJPY Intraday: Elliott Wave Analysis

By: Gregor Horvat | Mon, Sep 28, 2015
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USDJPY surprised me this week as price made much deeper downward move than I expected today. However, despite lower level my view did not change much. I still think that bulls will be stronger this week, but looks like that we will just need to wait more time. I am looking at a triangle in wave B that is now in final stages. Ideally wave (e) will find a support around 119.80 in the next few sessions.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

EURUSD is turning down from 1.1210 area where pair hit resistance line that suggests further weakness in sessions ahead. In fact, a leg down from 1.1295 last week was made in five waves so bears should stay strong and probably took out 1.1100 this week. We will stay bearish on EURUSD as long as 1.1295 is in place.

EURUSD 30min Elliott Wave Analysis

EURUSD 30-Minute 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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