Home Elliott Wave Analysis on Crude Oil and AUDJPY
Daily Look

Elliott Wave Analysis on Crude Oil and AUDJPY

Crude OIL

Oil is heading for a further fall and is in main topic of news. The world is tracking this fall and we hear that there are many buy options at 30 price levels. Looking at our chart we see lower levels ahead in all scenarios from the current possible triangle consolidation.

Crude OIL, 1H

OIL 1 (1)

 

On the 4H chart of AUDJPY the price made a nice looking impulsive structure from 88.250 area, where we labeled the end of black wave 2, resulting as black wave 3. That said, we now expect a three wave correction in black wave 4 to around the previous blue wave iv-circled of a lower degree, where the price could then continue lower in the sessions ahead.

AUDJPY, 4H

AUDJPY 4 (4)

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!