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

  • 15 hours Meet The Hedge Fund Billionaires Club
  • 16 hours The Next Housing Crisis Could Be Right Around The Corner
  • 17 hours Cartel's, Pirates And Corruption Cost Mexico $1.6 Billion Per Year
  • 18 hours Africa’s Fastest Growing Economy
  • 19 hours The Blockchain Boom Hits The Utilities Sector
  • 21 hours Why Smart Money Is Selling Off Right Before The Bell
  • 23 hours Tech Giants Rally Ahead Of Earnings Reports
  • 2 days Global Debt Hits 225% Of GDP
  • 2 days The World’s First Trillionaire Will Be A Space Miner
  • 2 days How Student Debt Could Cause The Next Real Estate Crisis
  • 2 days This $550 Billion Industry Is Betting On Bitcoin
  • 2 days One Commodity Set To Soar On Russian Sanctions
  • 2 days China’s New Car-Market Rules
  • 2 days Oligarch Risk: The New Red Flag For Investors
  • 3 days Five Things To Consider Before Investing In An IPO
  • 3 days Investors Bullish As Earnings Season Kicks Off
  • 3 days Nearly One-Third Of U.S. Lottery Winners Declare Bankruptcy
  • 3 days Is Facebook Still A Buy?
  • 3 days Will Blockchain Stocks Ever Bounce Back?
  • 3 days Geopolitical Tensions Fail To Boost Gold Prices
Investors Bullish As Earnings Season Kicks Off

Investors Bullish As Earnings Season Kicks Off

The first round of earnings…

3 Stocks to Watch This Earnings Season

3 Stocks to Watch This Earnings Season

Stocks began Friday with 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: GBPUSD and USDJPY

GBPUSD

GBPUSD is weakening and now attacking 1.2411 swing support from last week which may play an important role for a price action ahead. Notice that we are tracking a flat correction; it's an a-b-c structure where sub-wave c normally finds a base at the area of wave a. In our case this is at 1.2411, followed by an important Fib. support zone 100 points lower. So technically speaking we see a set-back, which may stop at 1.2300-1.2400 area this week.

GBPUSD, 1H

GBP/USD 1-Hour Chart

USDJPY

USDJPY has reversed down from around 115.60 with more weakness so we see pair still in a big and important contra-trend move. We are tracking a double zigzag with wave C of Y) in play. Wave C of Y) is showing us qualities of an ending diagonal so a sharp reversal higher may be just around the corner. A break above the 115.60 level would indicate a completed correction and higher levels to follow.

USDJPY, 4H

USD/JPY 4-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer → http://ew-forecast.com/register/
You can also follow us on twitter @ewforecast

 

Back to homepage

Leave a comment

Leave a comment