GBPUSD and AUDJPY Intraday: Elliott Wave Analysis

By: Gregor Horvat | Tue, Apr 14, 2015
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AUDJPY hit new lows recently but now is turning higher so looks like that five wave down from 93.00 is done and that three wave rally is underway to around 91.30/92.00 area where I would expected a resumption of a downtrend.

AUDJPY 1h Elliott Wave Analysis

AUDJPY 1-Hour Elliott Wave Analysis Chart

GBPUSD is higher, now in third leg up as expected, but it may be wave C of a corrective retracement so upside can be limited at 1.4730 or 1.4800. If price will turn down later today from mentioned levels then new lows will be expected to follow in the rest of the week. On the other-side, only rise above 1.4900 could impact the current outlook.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 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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