Elliott Wave Analysis On Crude OIL And USDJPY 

usdjpy-analysis

Gregor - Author BIO photoElliott Wave Analysis On Crude OIL And USDJPY

Crude OIL
Crude oil fell nicely yesterday, into a new impulsive pattern from 46.50 swing high, that we see it as wave C)/3) that belongs to a bigger bearish correction. Well, we need five sub-waves down from 46.50 so more weakness is now expected towards 42.97 and then even to 41/42 zone where bearish price may come to an end.

Crude OIL, 1H

oil-analysis

Click to Enlarge

USDJPY
USDJPY made three waves of recovery from September low so it’s a contra-trend move that puts price back in bearish mode, at least for a short-term. We are looking at wave C of D) that can drop to around 101.00 area in days ahead.

USDJPY, 1H

usdjpy-analysis

Click to Enlarge

 

http://www.ew-forecast.com/service

By Gregor Horvat


Find more: Contributing Authors

Leave a Comment


Broker Cyprus TopFX