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

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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