Elliott Wave Analysis On EURUSD And EURJPY
EURUSD
EURUSD is consolidating since the start of the moment which looks like a corrective pattern within ongoing uptrend. We are observing blue wave four that can be a triangle so ideally break higher will follow by the end of the week up to around 1.1450 or maybe even 1.1500 area, while market trades above 1.1310.
EURUSD, 1H
Click to Enlarge
EURJPY
EURJPY is looking very attractive here for selling opportunities as recently broken support line indicates a bearish turn. We however see one more push up for EURUSD to 1.1450-1.1500 area which makes us think that we need to be patient with EURJPY shorts. However a pullback should be tracked very closely up in wave 2).
EURJPY, 4H
Click to Enlarge
http://www.ew-forecast.com/service
Find more: Contributing Authors
