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USD/JPY is forming an extended wave structure, USD/CAD may

USDJPY is forming an extended wave structure, now at 107.00 so it looks like any upcoming correction will be a wave iv but of a lower degree than firstly thought. We see room for a current rise up to 107.50 from where an A-B-C set-back may occur and give an opportunity to join the trend in wave iv from around 106.00.

USDJPY Elliott Wave Analysis Technical view September 11 2014

USDJPY 1h Elliott Wave Analysis

USDCAD found support at our projected levels for wave c that is the final leg of a decline from the high, so the price may revisit these highs soon with an impulsive reaction.

USDCAD Elliott Wave Analysis Technical view September 11 2014

 

USDCAD 1h Elliott Wave Analysis

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!