USDJPY found support at 105.19 and is now reversing quite sharply to the upside, and made an important overlap yesterday with 108.00 figure which confirms the fact that a decline from the high was a three wave move. Ideally that was wave 4) so market can be back in play for rally back to 110 yearly highs.
USDJPY 4h Elliott Wave Anlaysis…Continue
USD Index is moving higher, now threatening the 86.10 swing after recent rally out of a downward channel. We assume that market already accomplished a corrective retracement in wave 4 and that current leg up can be wave three as part of a new impulsive cycle heading above 87.
USD Index 4h Elliott Wave Analysis…Continue
USDCHF has made a nice extended leg up from July lows that we see it as wave (3) that is part of a five wave rally. This rally should then continue after a corrective pause and it seems that new one is already here. We are talking about wave (4) that can look for a support at 38.2% retracement in days ahead.
USDCHF Daily Elliott Wave Analysis…Continue
USDCAD is reversing from the highs but it can be just another deep corrective retracement. Ideally price turned down into wave ii) that may find the low at 1.1180-1.1200 zone. Keep in mind that as long we have higher highs and higher lows formation from mid September, the trend is up. In our case the latest higher swing low is at 1.1078 so as long this price is in place we will continue to look for higher prices.
USDCAD 4h Elliott Wave Analysis…Continue