• 3 hours The Investment Sector Defying A Global Pandemic
  • 5 hours Face Masks Become The Key To Economic Recovery
  • 9 hours Impact Investing Remains Strong Despite COVID-19 Market Downturn
  • 11 hours Global Stocks Are Soaring On Fresh Vaccine Hopes
  • 13 hours Rethinking Mining: A $10 Trillion Opportunity
  • 1 day Smart Investors Are Betting On This COVID-Proof Industry
  • 1 day Disney’s Digital Pivot Could Be Its Saving Grace
  • 1 day What Does Tesla's Million-Mile Battery Mean For Green Energy?
  • 1 day U.S.-China Tensions Are Reaching A Boiling Point
  • 2 days Gold Remains Strong Amid Increasing Economic Uncertainty
  • 2 days Morgan Stanley And Goldman Sachs Are Betting Big On This Budding Industry
  • 2 days Global Corporate Debt Soars To $9 Trillion
  • 2 days The Fed’s Slippery Slope
  • 2 days Precious Metals Pulled Ahead Of The Pack In The First Half Of 2020
  • 2 days Tesla Faces $20 Billion In Short Interest
  • 2 days China's Economic Recovery Remains Tepid
  • 2 days Silver Inches Closer To $20
  • 3 days The Secret Life Of Lithium
  • 3 days The Pandemic Proof $53 Billion Industry Wall Street Can’t Ignore
  • 3 days Will Gold Hit $2,000?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDJPY And Crude OIL

USDJPY

USDJPY has been trading higher at the start of the week, but pair found some sellers recently at 61.8% Fibonacci retracement and at c=a level, which can represent a very strong reversal zone. As such, we should be aware of more weakness from here, ideally down into wave C of D) back to 101.00 area. Our short-term view remains unchanged as long as 104.33 is not broken.

USDJPY, 1H

USD/JPY 1-Hour Chart


Crude OIL

Crude oil is ticking lower so wave B)/2) can be already completed which means we may see more weakness from here, and towards 43.00 by the end of the week. We are looking at 42.00 level as potential area for a new bounce, as bigger corrective decline can come to an end down there.

Crude OIL, 1H

Crude Oil 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

 

Back to homepage

Leave a comment

Leave a comment