Elliott Wave Analysis on AUDUSD and EURJPY

AUDUSD

AUDUSD is still trading in a complex pullback. On this pair we see recently that the previous bear market, on a larger time frame, finds more and more buyers. As we are looking for potential lows with USD on other pairs in 2016, we do as well on this pair. We see the current move as a complex corrective pattern to the upside with still some pips of a potential reversal. When this blue wave 4-circled is completed we expect a new push lower in the weeks to come.

AUDUSD, 1H

EURJPY

EURJPY is trading as well in the wave 4 corrective pullback. We have seen an upward price action after wave 3 was completed and we now see this as an ABC pullback in the making. Currently wave A might be completed and wave B is underway. This pair goes well with EURUSD since they are in correlation and since we see more upside on this pair this will reflect in producing C wave here.

EURJPY, 4H

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!

View all posts by Gregor Horvat