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Stocks sold off last week…

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Earnings season is well underway,…

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Elliott Wave Analysis On EURJPY And Crude OIL

EURJPY

EURJPY remains incomplete to the upside, as we are still missing fifth wave in c) to complete a corrective a)-b)-c) bounce from 112.05 lows. Ideally market will touch 114.50 before downtrend begins in a strong impulsive manner.

EURJPY, 1H

EUR/JPY 1-Hour Chart


Crude OIL

Crude oil is moving slow since market broke out yesterday, so it represents a typical minor consolidation within strong uptrend that may continue already today. We expect a fifth wave up to 48.00-48.50 where resistance can be seen for a short-term.

Crude OIL, 30Min

Crude Oil 30-Minute Chart

 


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