GBP/USD completing correction, USD/JPY could slide more before a

USD is showing some a picture on the FX board. We see going in different directions against EUR, AUD, and GBP. The most interesting pair today to track should be GBPUSD which made three legs of recovery from 1.6280 towards 1.6390 where the pair shows a first evidence of a completed correction. Sooner or later, the pair is expected to continue south, through 1.6280 and towards 1.6200. That’s either wave (iii) or wave (c) of a decline. We already shared the 4h strategy earlier to members.

GBPUSD 1h Elliott Wave Analysis

USDJPY is finally making a deeper pullback now with wave c trading down, towards 108.00 where the pair could be looking for new support and could complete a retracement of wave iv). We would love to get involved in a bullish trend, but I am more focused on 4h chart, where I want a retracement into 106.80-107.50 area before I could look for some longs.
USDJPY 1h Elliott Wave Analysis

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!

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