EURUSD and USDJPY Intraday - Elliott Wave Analysis

By: Gregor Horvat | Mon, Sep 14, 2015
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EURUSD is turning nicely down for the last few hours, possibly with first small impulse through the channel support line which is a first evidence for a short-term weakness in minimum three waves. However, that's still not enough for confirmed top of a red wave C); we need overlap with 1.1232 level first. In that case we will look straight to the downside.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

USDJPY doesn't show us any signs of a completed correction yet, but price definitely approaches to some interesting region where bulls come into play. We are looking at 119.80-120.00 area from where pair could bounce this week 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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