USDJPY and USDCHF Intraday: Elliott Wave Analysis

By: Gregor Horvat | Fri, Apr 10, 2015
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USDCHF reached new highs today, but divergence on the RSI suggests that corrective set-back is coming. However, any reversal down may not last long, as we see fourth wave coming, as part within big wave 3 that can be targeting 0.9900 level.

USDCHF 1h Elliott Wave Analysis

USDCHF 1-Hour Elliott Wave Analysis Chart

USDJPY is turning slightly lower but actually trades very slow, so we suspect that corrective wave is still unfolding. We are looking at wave (ii) or (a) that can be an expanded flat with wave c) down in view, which means that pair could retest 119.60 support before price goes higher in impulsive fashion.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

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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