• 3 hours Toyota Tests Solar-Powered Prius
  • 21 hours Why The Gold Rally Flatlined
  • 1 day The Uranium Sector Can’t Catch A Break
  • 2 days Upcoming Fed Meeting Has Investors On Edge
  • 2 days Global Gold Sector Outlines Responsible Mining Principles
  • 3 days China’s Giant Vampire Fund Loses $120B
  • 3 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 3 days Savvy Investors Are Betting Big On This Little Data Company
  • 4 days How The Government Is Wasting Tax Money This Year
  • 4 days Supply Concerns Halt Expansion On Tianqi Lithium Plant
  • 4 days The World’s Biggest IPO Is Almost Here
  • 5 days The Relatively Of Money And Happiness
  • 5 days Wall Street Unfazed By Recession Fears
  • 5 days SoftBank Urges WeWork To Pause IPO Plans
  • 6 days Anti-Aging Market To Hit $55 Billion
  • 6 days JPM, Morgan Stanley Take Advisory Roles In Aramco IPO
  • 6 days Are Bonds In A Bubble?
  • 7 days The Unknown Media Giant Taking The World By Storm
  • 7 days From Millennial To Millionaire With One Simple Trick
  • 8 days The 5 Most Expensive Art Pieces Ever Sold
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On Crude OIL And GBPJPY

Crude OIL

Crude Oil 1-Hour Chart

Crude oil is trading as planned, now making a nice impulsive decline from recent highs at 39.00, down into wave c) ideally towards 35.75-36.25 area, where a change in trend can occur. As we see wave c) is approaching fibo ratio of 38.2, which can react as a support into higher levels.

That said invalidation level is at-34.67, as long as it holds, we are looking bullish.


GBPJPY

GBPJPY 1-Hour Chart

On the GBPJPY pair, we see a nice looking five wave cycle from the lows, which seems to be near completion, as price turned down in recent sessions. If we are correct, and price continues to the downside, then we will assume that a three wave pullback will unfold, before more upside can be seen. Ideally this correction will continue to around 158-160 area, where previous wave iv of a minor degree, can react as a support into higher levels.

 


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