USDJPY and FTSE100 Intraday: Elliott Wave Analysis
10 year US notes came down from 127'00 to 125'30, so yields are up that which is supportive for USDJPY. Pair rallied nearly 100 pips yesterday that looks like a wave (iii) now from 102.10. As such, we are tracking an impulsive rally from August 08 that should reach even higher levels, but after a corrective wave (iv). We expect that one very soon, with a retracement back to 103.20/40 before uptrend may extend to a new high with wave (v).
USDJPY 1h Elliott Wave Analysis
On some global major indices I still expect a deeper retracement as rally from August lows unfolded in five waves. On FTSE100 below we have already send some weakness from latest high, but that trendline still need to give way to confirm a deeper retracement, back to open gap before we go higher. We see limited upside on stocks, sooner or later corrections will come that are part of a big uptrend.
FTSE100 1h Elliott Wave Analysis
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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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