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Gregor Horvat

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…

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Elliott Wave Analysis For USDJPY and AUDUSD Intraday

USDJPY has recovered in five waves from 101.04 which means that low is in place, but only for wave D) that is part of a triangle. So current impulse up is wave A, first leg of a three wave rally in wave E) of a higher degree. In the short-term, be aware of a three wave set-back in black wave B that may look for a support around 101.42, at former wave (iv).

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

The AUDUSD has been trading lower for the last few days and tested July lows. For now our bearish prediction and active shorts from last week works fine, but I would still love to see a decisive break of that July low before we may finally pull stops down. I however am observing a very aggressive bearish count while 0.9376 holds, but because of many different counts possible I would label 0.9455 as invalidation level.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

 


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