USDJPY and SP500 Intraday: Elliott Wave Analysis
USDJPY is moving down at the moment, following very bad US Durable Goods Orders (-3.4% vs 0.6% exp.). Based on a very strong decline at the moment, we suspect that price will sooner or later revisit the lows and possible test 117.00 area, where we would love to see a bounce after a completed corrective decline.
USDJPY 1h Elliott Wave Analysis
Traders, the S&P is trading lower as expected, now moving south with a third leg of decline that we highlighted it yesterday. Ideally that's wave C, third leg within wave E that can look for a support at our 2000-2020 zone.
S&P500 (Mar 2015) 30 Min 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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