GOLD and USDJPY Move Down - Elliott Wave Analysis

By: Gregor Horvat | Thu, Sep 3, 2015
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USDJPY turning nicely down after recent break through the lower support channel line which suggests that wave ii)/b( is complete and that price is headed back to the lows. For now Invalidation level remains at 121.74.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

Gold is turning lower; looks like an impulse that is ready to hit new swing low, possibly even 1110 by the end of the week. Move back above 1134 will cause a complex pattern.

GOLD 1h Elliott Wave Analysis

GOLD 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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