Elliott Wave Forecast Team
ElliottWave-Forecast.com
Crude oil was moving nicely down in this week, currently making a small corrective pause that we see it as wave iv within ongoing bearish impulse in wave five. Usually fourth wave will find resistance at the area of a wave four of one lesser degree which in our case comes in around 49.60. As such, keep an eye on 49.50-50 zone for a new leg down in sessions ahead.
Crude Oil (Sep 2015) 1h Elliott Wave Analysis
_20150724132748.png "OIL Elliott Wave")
No change on USDJPY; price is still sideways in wave b) so another leg down to 123.00 is expected that will complete a contra-trend move sometime early next week, when we could also be considering longs on the pair.
USDJPY 1h Elliott Wave Analysis
_20150724132835.png "USDJPY Elliott Wave")
Crude Oil (Sep 2015) 1h Elliott Wave Analysis
No change on USDJPY; price is still sideways in wave b) so another leg down to 123.00 is expected that will complete a contra-trend move sometime early next week, when we could also be considering longs on the pair.
USDJPY 1h Elliott Wave Analysis
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