USD/JPY to resume uptrend, sooner or later; NZD/USD could

Markets slowed down recently into a corrective formation. This means that the USD lost some value during this week. However we are already observing some nice patterns on several pairs that are pointing for higher USD in days ahead. The first pair that we are tracking very closely is USDJPY as the pair already fell to a new swing low and touched equality level for wave c)=a). There is a possibility for another spike to 107.70 but anyhow, sooner or later the uptrend should be back in play. We are considering EPO; tracking it closely.

USDJPY 1h Elliott Wave Analysis

The next interesting currencies could be the commodity currencies. On NZDUSD for example the price slowed down in the last two weeks, most likely into a corrective fourth wave. We see a contracting trendline that forms a triangle. Ideally the pair is now in wave d) with wave e) yet to come, so a breakdown could follow by the end of the week.

NDZUSD 4h 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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