OIL and USDJPY Intraday: Elliott Wave Analysis

By: Gregor Horvat | Tue, Aug 12, 2014
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No change on crude oil in the last couple of hours; we still see current slow price action as wave b that is part of incomplete three wave rally. We favor push up into the 99-100 resistance area before price may turn for a new leg down.

CRUDE OIL 1h Elliott Wave Analysis

CRUDE OIL 1-Hour Elliott Wave Analysis Chart

Traders, USDJPY is up, but not for long it seems as we see recovery as wave B now at resistance levels. That B is part of incomplete three wave fall in wave D. We would not be surprised to see pair moving down in the next few sessions into wave C towards 101.20/101.30 where pair may turn up for wave E.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

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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