USDJPY and USDCAD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Jan 22, 2015
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USDJPY is turning down right now, probably into our wave c that can be targeting 116.50-117.00 area. Ideally bearish will stop here and cause a turning point to the upside. If we will see an upward reaction from the highlighted levels then we might be looking for longs in sessions ahead.


USDJPY 1h Elliott Wave Analysis

USDJPY 1h Elliott Wave Analysis

USDCAD might have already completed a corrective fourth wave so new highs could follow soon, but maybe not for long as we see pair breaking up into fifth wave within an extended red wave iii). We see technical resistance near 1.2420/50, from where a red wave iv) could occur in days ahead. This fourth wave would be on my radar screen for longs.


USDCAD 1h Elliott Wave Analysis

USDCAD 1h Elliott Wave Analysis

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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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