USDCHF And USDJPY Intraday Elliott Wave Analysis
On USDCHF we are tracking an ending diagonal, now moving slightly lower in final parts of the pattern. Wave 5 could look for a support around 0.9020, but definitely not below 0.9000 because then wave 3 would be best shortest and wave count would become invalid, but still corrective from Nov 7th high!
USDCHF 1hElliott Wave Analysis
USDJPY moved perfectly in this week from 101.13 up to 102.60 today where pair could form a temporary top if we consider that on the 4h chart we are in wave (v) of 3, but on hourly we can now also count five subwaves in v), so any deeper corrective retracement will not be a surprise. Break of 102.10 today would confirm our bias. If market breaks to new highs, above 102.60 then 103.00 could be tested.
USDJPY 1hElliott Wave Analysis
Written by www.ew-forecast.com
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Author: Gregor Horvat
Gregor Horvat
www.ew-forecast.com
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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