Elliott Wave Analysis On EURUSD And EURJPY

By: Gregor Horvat | Wed, Feb 17, 2016
Print Email

EURUSD

On EURUSD we are still tracking a corrective pattern, which can unfold as wave B/2 and can form as a flat. A reversal to the downside can come in from 1.1213-1.1257 area. Straight move down to 1.100 would indicate a completed correction.

EURUSD, 1H

EURUSD 1-Hour Chart


EURJPY

Recent break beneath our corrective channel line suggest, that EURJPY is headed much lower and that correction in black wave 4 is completed. That said price is now trading in final stages of a minor correction in blue wave ii and will ideally continue to the downside after its completion. We can expect a reversal around our fibo. ratio of 61.8. Break above 128.187 would invalidate the count.

EURJPY, 1H

EURJPY 1-Hour Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 


 

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.

EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com