Elliott Wave Analysis On EURJPY And SUGAR

By: Gregor Horvat | Tue, Jul 19, 2016
Print Email

EURJPY

EURJPY is turning down from 118.37 for the last few days. Till now we have seen one leg down labeled as wave A, followed by a bounce up in wave B, which is still only second leg of a corrective set-back. But we know that corrections are made by three waves, so more weakness is expected to show up down into wave C. Ideally market will fall to around 115.00 before it turns up again.

EURJPY, 4H

EUR/JPY 4-Hour Chart


SUGAR

Daily chart of Sugar gives us a nice idea of a large impulsive move taking place from August of 2015 lows. As we see on the chart, price could now be in red wave (3), specifically in sub-wave 4, which can find its support later this summer around the area of a former blue wave iv, where even some Fibonacci ratios of 38.2 and 50.0 can act as turning points higher.

SUGAR, Daily

Daily Sugar Chart

 


Interested in our services ? We have a Special Offer: Get First 2 Months For The Price Of 1!! Grab the opportunity now 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