Elliott Wave Analysis on GBPUSD and EURJPY Mar 2016
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Elliott Wave Analysis on GBPUSD and EURJPY Mar 2016


GBPUSD moved down to 1.4117 level where the pair can be looking for a support as a decline from the high is made by five waves. Ideally it represents wave C) of B-circled so a new bullish impulse would be expected, but as always we need to focus on minimum projections which means three legs up back to the 1.4200-1.4280 area.




EURJPY moved down this week but till now only with three legs, so we see it as a corrective wave. It’s wave B) as part of a complex correction that may continue up into wave C) of Y. We would not be surprised if the price will recover up to around 128.00 area.



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!