Elliott Wave Analysis: USDJPY, German Dax and EURGBP 

eurgbp

Gregor - Author BIO photoElliott Wave Analysis: USDJPY, German Dax and EURGBP

ECB press conference is now live with USD running to a bullish side while EUR is making lower levels, currently near 1.0600 while DAX turns back to daily highs. We see potential more USD strength especially if stocks will remain strong, but as always be aware of pullbacks. USDJPY shows five waves u in wave one, so a three-wave set-back can be around the corner. DAX at the same time, is showing potential leading diagonal, so roller coaster ride and fake intraday breaks may not be excluded today.

USDJPY, 1H

usdjpy elliott wave

DAX at the same time, is showing a potential leading diagonal, so roller coaster ride and fake intraday breaks may not be excluded today.

German DAX, 1H

German dax

EURGBP is looking nice here, with five waves down from 0.8852 which is a trend changer from bullish to bearish mode. However, corrective bounce is needed before market continues even lower, so watch for a break lower out of a three-wave bounce in the next few sessions.

EURGBP, 1H

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By Gregor Horvat

 

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