Elliott Wave Analysis On EURCAD And USDJPY
Elliott Wave Analysis On EURCAD And USDJPY
EURCAD
EURCAD is turning strongly up from 1.4261, clearly with an impulsive reaction out of a downward channel so it appears that five wave decline from 1.4872 is finished. If that’s correct then market is now in a new three wave bounce, ideally wave two that can retrace back to 1.4570-1.4660 resistance area. If we are correct, then downtrend will continue after visible a)-b)-c) waves.
EURCAD, 1H
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USDJPY
USDJPY has made only three waves of a decline from recent highs, so pullback can still be corrective wave four as part of ongoing wave C. Ideally market will look for a support at 102.80 area from were final leg up may show up, towards 105.00 where big black wave C can be looking for a top.
USDJPY, 1H
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