Elliott Intraday Analysis On EURJPY And Crude OIL

By: Gregor Horvat | Fri, May 13, 2016
Print Email

EURJPY

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.

EURJPY, 1H

EUR/JPY 1-Hour Chart


Crude OIL

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

Crude Oil 1-Hour Chart

 


Are you also wondering where is the EURJPY or OIL headed Long-term? We have special daily updates for active traders. For more details, visit our page at www.ew-forecast.com

 


 

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