Dollar Could Move Even Lower against EUR & JPY

Dollar Could Move Even Lower against EUR & JPY –

Markets are slow, trapped in small corrective waves that could result in an even weaker USD in the sessions ahead. On the EURUSD hourly chart we are tracking a corrective wave B) down that appears incomplete as we need a three wave decline from the latest high. So the current minor recovery can be a subwave B so wave C down could be coming. A fall close to 1.0760/1.0820 may not be a surprise, maybe even a long opportunity if we get there. I will keep a close eye on that one.

EURUSD 1h Elliott Wave Analysis

USDJPY spiked beneath 119.26 yesterday before it turned up, probably into a corrective wave b) that we already highlighted in recent updates. As such, upside can be limited near 120 as we see ongoing price down in a second zigzag that can be looking for a drop to around the 118.00/118.50 area, a potential bounce zone.

USDJPY 1h Elliott Wave Analysis

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Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

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