OIL Elliott Wave Analysis Wave (d) Reversing From Resistance

Crude oil is now finally turning bearish, away from 104.00-104.50 resistance where we were looking for a wave (d) high. Notice that market turned nicely down and took out the support channel line that confirms the bearish view, for a three wave drop into wave (e) back to 100-101 area. Once those levels will be seen, we will turn bullish as big triangle since March could then be near completion.

OIL 4h Elliott Wave Analysis

Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service

USDJPY Elliott Wave Analysis: Temporary Recovery

USDJPY is turning into a temporary recovery, and the reason is slow and overlapping price action at the late stage of recent decline that looks like an ending diagonal placed in wave C position, final leg of a three wave fall from 104.11. Therefore, we suspect that USDJPY is trapped in some bigger corrective price action, probably a triangle, and that pair will continue sideways or even slightly higher in the next couple of days. We expect a three wave rise up in wave C), back to 103.00. 

USDJPY 4h Elliott Wave Analysis  

Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service