Elliott Wave technical analysis with trading signals for NZDUSD, AUDUSD, USDJPY, DXY, EURUSD
EURUSD
EURUSD is finishing the B in a running flat correction within the 3rd impulsive decline long-term by testing and being rejected by 1.1980 again. A break below the 1.17500 is needed for confirmation which we don’t have. The C should bring a break below 1.08000 for a downside continuation and a finish of 3rd wave. Invalidation of the count will come on a break above 1.19000. and would mean this is 3rd wave correction that we have now. The pair has broken above the 1.19000 level for a downside invalidation count and extension upside to the 5th wave.
USDJPY
Elliott Wave principle USDJPY expanding flat within larger ABC flat is still running and it seems to be in a 2nd wave of the impulsive wave higher. This is indicating a 103.20 as the key support for the invalidation of the pair upside continuation. We still, don’t have a break below 103.20, although it was on a test for invalidation of the 3rd wave to the upside. A confirmed break above the 106 is required for the upside extension and a test of 3rd wave beginning confirmation.
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