Elliott Intraday Analysis On EURJPY And Crude OIL
US market is about to open. Retail sales in US was much better then expected and USD is on the rise all over the board. On the intraday chart of EURJPY, price made a nice corrective pattern named a Flat that could be near completion as three sub-waves are already visible. If price breakes above the 124.185 mark, then we can anticipate a new high ahead.
OIL sustained its uptrend and is now trading in the 46.37 range. We see this latest consolidation as a triangle pattern and we might see one more push down as wave E in order to complete it. As soon as this triangle is completed we believe that price can continue its bullish momentum into the last wave five.
Crude OIL, 1H
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