CADJPY, GBPUSD and NZDUSD Point Higher!

Intermediate

As stocks move to the upside, our attention is on CADJPY as this pair shows a nice bullish development with room for more upside after any short-term set-back of wave 3 or even maybe wave 2). More upside should follow this week.

CADJPY, 4h

intraday cadjpy

Cable came nicely to the downside, beneath wave a level for a spike so a flat correction can come to an end soon. There was also a 50% Fib. level that is trying to make a turn, so we would not be surprised if prices would be higher later today. Ideally, pair is underway above 1.2760.

GBPUSD, 1h

gbpusd

NZDUSD is making sharp leg down from Friday highs, which can be wave c still, but because of deep move there are other options on the table as well. However, I think that bounce will come anyhow, up to 0.6627 minimum.

NZDUSD, 1h

nzdusd

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Gregor Horvat

Elliot Wave Technical Analyst

Gregor Horvat is based in Slovenia and has been in the Forex market since 2003. He has been working for Capital Forex Group and TheLFB.com.

He is the owner of www.ew-forecast.com, which prov...continued

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