USDJPY and SP500 Intraday: Elliott Wave Analysis

By: Gregor Horvat | Tue, Jan 27, 2015
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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

USDJPY 1-Hour Elliott Wave Analysis Chart

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

S&P500 (Mar 2015) 30-Minute Elliott Wave Analysis Chart

 


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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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