Elliott Wave Analysis: USDJPY & AUDUSD Intraday 7/2/2014


We believe that USDJPY accomplished a three wave decline in D) around 101.20 and that pair is now recovering in wave A, first leg of a three wave bounce in E) that may reach levels around 102.00/102.15 in days ahead.
USDJPY 1h Elliott Wave Analysis

USDJPY Intraday

On AUDUSD we have seen a sharp fall in overnight trading after worse than expected Trade Balance figures. Pair lost nearly 50 pips, a leg that was made in five waves so it appears like a change in trend which means more weakness should follow in sessions ahead. Short-term resistance for any A-B-C pullback comes in at 0.9475/0.9480.
AUDUSD 15min Elliott Wave Analysis

AUDUSD 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.