Elliott Wave Analysis On Silver And USDJPY

By: Gregor Horvat | Mon, Sep 19, 2016
Print Email

Silver

Metals are higher today, with gold at 1316 and silver at 19.24 after it hit 18.65 on Friday. We see quite nice strong turn up on silver, clearly in five waves so we can expect more upside after any short-term correction. Ideally we are going higher now into wave D which should be made by three legs so we would not be surprised if market would rally up to around 19.50 zone.

Silver, 1H

Sulver 1-Hour Chart


USDJPY

USDJPY is ticking lower, now breaking through the trendline support connected from September low which indicates that wave C is in play. We see pair falling towards the 100.50-100.70 area where wave D) can find looking for some support, as part of a higher degree triangle.

USDJPY, 1H

USD/JPY 1-Hour Chart

 


Interested in our services? We have a Special Offer: Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 


 

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