USDJPY and Crude OIL Intraday - Elliott Wave Analysis

By: Gregor Horvat | Tue, Jul 28, 2015
Print Email

USDJPY can be in fourth wave here of a new bullish turn up from 123.00 low. If that is the case then new high will follow today, up to around 124.00 area. If that will prove correct, and if channel resistance line will be taken out then our view will be for longs in red wave ii). Keep a very close eye on that one.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

We adjusted the wave count on crude as price keeps trading sharply lower so who knows where it will bottom. That said, it's better to stay with a trend and be aware of even more weakness after any pullback. We see fourth wave coming, which can retrace back to 48-48.70 area before downtrend will resume.

Crude Oil (Sep 2015) 1h Elliott Wave Analysis

Crude Oil (Sep 2015) 1-Hour Elliott Wave Analysis Chart

 


What Can You Get For 1€? At ew-forecast.com Try 1 Month Full Service >> http://www.ew-forecast.com/register

 


 

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/

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com