Elliott Wave Analysis: AUDUSD & USDJPY Intraday 6/27/2014

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AUDUSD is showing some nice price action on the intraday charts. Notice that we can count five waves up from 0.9351 referred as an impulse wave that is showing direction of a trend. This one is up so we expect a continuation after a three wave set-back that may find a support on Monday, Tuesday around 0.9380 level.
AUDUSD 1h Elliott Wave Analysis

audusd intraday

With weak stocks we may see a continuation lower on USDJPY from current intraday consolidation that looks like minor fourth wave. As such, pair could re-test the lows and even extend down to 101.20 in the very near-term. Only rally above 101.73 will require an updated count.
USDJPY 1h Elliott Wave Analysis

usdjpy intraday

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.