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EUR/USD trapped in range; USD/JPY ready to rock –

EURUSD is a real mess on the intraday chart, so the pair must be trapped in a big correction. Based on the low volume and approaching the Easter holidays we suspect that the pair will stay trapped in  range.

Therefore, the current rise from the 1.0700 region is probably going to be in three waves, so any upside swing can be limited at 1.0850 or at 1.0950 if the pair rises.

EURUSD 1h Elliott Wave Analysis

EURUSD Elliott Wave Analysis April 2 2015 technical chart for forex trading

USDJPY was not very clear on the OHLC chart so sometimes I will look at the line chart to check if we have any clearer patterns. Well, what I see is a possible five waves up from the low, so bullish waves can be on the cards, but we may have to wait for the NFP tomorrow. The March 26th low is the invalidation level.

USDJPY 1h Elliott Wave Analysis

USDJPY Intraday Elliott Wave Analysis April 2 2015 technical chart for forex trading

Gregor Horvat

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!