Elliott Wave Analysis: EURUSD, USDJPY and 10Year US Notes

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We are tracking an impulse down on EURUSD which may extend to 1.1100 in the near term, while USDJPY may rise to 112.00, but after a fourth wave correction. Both pairs will be on my watch-list next week for potential trading candidates.

EURUSD, 1H

USDJPY, 1H

The reason I like these two, for more USD strength ahead, is in US treasuries after that nice turn down from above 127’00. The decline is strong and may suggest that the ending diagonal is completed which means more weakness on 10 year US notes, so based on correlation with EURUSD and USDJPY, dollar should be looking for more upside.

10 year US notes vs EURUSD, 2h

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About Author

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, 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 www.ew-forecast.com 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!

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