EURUSD And EURJPY: Elliott Wave Analysis

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EURUSD made five waves up from 1.3560 to a new swing high so it may be the right time for a short-term retracement down in wave (b) to 1.3620/40 ahead of a wave (c) rally above 1.3700. In either case intraday trend is up, and we anticipate further gains as long as 1.3560 holds.
EURUSD 1h Elliott Wave Analysis
eurusd elliott wave intraday
With S&P500 count below we are still interested in longs on EURJPY. On the hourly chart below we see slow and overlpaing move from 138.65-139.70 which we think it’s wave (b) as a part of an incomplete downward correction. Nice support comes in at 138.70-1.38.30.
EURJPY 1h Elliott Wave Analysis

eurjpy intraday elliott wave

Written by www.ew-forecast.com 

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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.