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USDJPY Still inside the Triangle, USDCHF is Ready To

USD is looking bullish against the Japanese yen, despite a falling stock market, so we think that USDJPY can move sharply to the upside, once stocks will find a support. On USDJPY we see a triangle in progress; that’s a five wave pattern with wave (d) now underway to the 120.70/80 area, where resistance can be seen, as wave (e) is also needed before correction is finished.

USDJPY 1h Elliott Wave Analysis

USDJPY Intraday 921

USDCHF is showing a clear corrective move from September highs that can be done as the bounce from 0.9523 is looking impulsive. It can be wave (1), so now price is in wave (2) pullback that may find a support around 0.9620.
USDCHF 1h Elliott Wave Analysis

USDCHF Intra 921

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!