Crude OIL and EURJPY Intra-day Develoments

Intermediate

Hello traders,

No bullish evidences on Crude oil yet. That said, seems like Crude oil still can see new lows below 50 area, but carefully because it’s the final wave 5 of 5), so bounce may occur anytime. Watch out for spikes as well. However, as long as Crude oil keeps trading within bearish Elliott wave channel, we have to remain bearish, so only an impulsive rally above channel resistance line would be an indication of a bottom.

Crude oil, 1h

Oil chart 2018-11-28

EURJPY is moving slowly within the final wave E of a big bullish triangle pattern. We are not sure how big wave E is going to be, but it’s valid as long as it’s trading above 127.80 area! An impulsive rally back above 129.0 region would confirm our view towards 129.50 – 130.0 area for wave C, where bulls may slow down!

EUR/JPY, 1h

EURJPY Chart 2018-11-28

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

Comments on this analysis

Your email address will not be published. Required fields are marked *


Latest Related News

Bullish Turn on EURJPY

Hello traders, EURJPY looks to have completed an A-B-C correction at the 122.36 level, as price started recovering, and breaking above the 124.42 bullish level. We labelled an Elliott wave leading diagonal underway in wave A)/1), because of price characteristics: a 5-3-5-3-5 pattern, where legs 1 and 4 overlap each other. That said, price is now at 124.7 level, however we would not be surprised… Continued

Fed Minutes leave markets mixed

Macroeconomic/ geopolitical developments The US stock market “risk on” theme has extended into latter August, with the US benchmark average, the S&P 500 prodding to a new all-time high.Wednesday’s meeting minutes from the FOMC saw another downbeat assessment of the US economic recovery and notes of caution. Plus, the Fed also backed away from a guidance shift at the September meeting.  However, the Federal Market Committee… Continued

Markets hesitant again, sending mixed signals

Macroeconomic/ geopolitical developments Global financial markets started to signal a move to more of a “risk on” theme to start July, after the indecisive phase evident from June.However, an absence of any significant economic data through the past week has seen some markets revert to the ranges seen in June.Markets remain captured by two competing forces; increasingly positive economic data on one side and the… Continued

Day Trade Ideas: Video analysis – Dollar, WTI Crude, Gold, Emini S&P, Dow Jones

Wide analysis of the US Dollar, Crude Oil, E-Mini Future S&P 500 and the Dow Jones. Also taking a look at Gold and how it is doing in these volatile times. Continued

“Risk on” resumes! Data wins over virus concerns

Macroeconomic/ geopolitical developments Global financial markets have started to resolve the indecisive theme that has been evident from the middle of June into more of a “risk on” bias to start July.Markets have been caught between two competing forces; increasingly positive economic data compared to consensus and the rise in COVID-19 cases (particularly in the southern states of the US, but also in pockets globally).The… Continued

Forex Brokers in your location


SIGN UP

79% of retail investor accounts lose money


SIGN UP

79,3% of retail investor accounts lose money


SIGN UP

74,9% of retail investor accounts lose.


SIGN UP

75% of retail investor accounts lose money when trading CFDs with this provider.