"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 19 hours Why Are Investors Overlooking Gold Stocks?
  • 20 hours The App That Democratized Trading Is Now Worth $5B
  • 21 hours Super-Cycles: Why Gold Is Set For A Breakout
  • 22 hours U.S. Sanctions Russia For Election Meddling And Cyberattacks
  • 23 hours Snap Shares Tank Over ‘Slap Rihanna’ Campaign
  • 1 day How Low Can Bitcoin Go?
  • 1 day Amazon’s Japan HQ Raided In Anti-Monopoly Push
  • 1 day Is Barrick Gold Close To Finding A Bottom?
  • 2 days Morgan Stanley’s Top 10 Short-Term Stock Picks
  • 2 days China: The Land Of The Ultra-Rich
  • 2 days Alibaba Soars On Reports Of China Listing
  • 2 days What Killed Toys ‘R’ Us?
  • 2 days SEC And IRS Take An Aggressive Stance On Cryptocurrencies
  • 2 days Bears And Bulls Face Off In Gold Markets
  • 2 days Bitcoin Is Winning Over The Housing Market
  • 2 days Markets Slide Sideways As Trade War Fears Linger
  • 3 days Why Aren’t Millennials Investing?
  • 3 days Bitcoin And Banking: The Next Mobile Payment Revolution
  • 3 days SEC Cracks Down On Silicon Valley’s “Disruptive Tech”
  • 3 days Wyoming Eliminates All Taxation On Gold And Silver
Can This Bull Market Become The Longest In History?

Can This Bull Market Become The Longest In History?

Positive job growth and confident…

Is Barrick Gold Close To Finding A Bottom?

Is Barrick Gold Close To Finding A Bottom?

Barrick gold has been a…

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…

More Info

Elliott Wave Analysis On EURGBP And USDJPY


For now, we have seen some nice turn down, but still not enough for a "top in place". We would love to see push beneath 0.770 that would then suggests more weakness next week with minimum three wave decline.


EURGBP 4-Hour Chart


A decline on USDJPY has extended to a new low and is falling very sharply from 115.23 so looks like that wave v-circled is going to be extended fifth wave headed down to 110 area. Despite very strong bearish momentum we think that leg down from 121.68 still can be wave C as part of a complex corrective pattern. However, we need a completed bearish pattern first, and then look for possible bullish reversal structure with five waves.


USDJPY 4-Hour Chart


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter