TradingWaves | Elliot Waves Analysis | Price

Chart Analysis

Mon 25-11-2019



Hi everyone, hope you are all ok.

Let's get into it...


USDJPY 

USDJPY Daily and 4Hour Charts are showing a possible Wave [iii] under development, although an Alternate #1 for a possible extended Wave [ii] is still in the cards.

The 4Hour Chart, under the current count, is showing a possible Wave (ii) of Wave [iii] completed at exactly %76 retracement of Wave (i) and it has bounce of the low trend-line slightly into a possible start of Wave (iii).

The 60Min Chart shows Wave 3(blue) of Wave iii picking up the prices impulsivelly, and the price at this point should remain above the highest of Wave 1(blue) at 108.70 price for this count to remain valid. 



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4Hours

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Weekly






EURUSD

EURUSD Daily Chart is showing Wave [ii] possibly completed at %50 retracement, although there is still a real posibility that the correction gets extended to trigger the Alternate #1 count for a greater retracement; This coming week would decide between the alternate vs the current count.

The 4Hour Chart shows Wave i with 5 internal waves very impulsive to the downside and a Wave ii that might have found completion at just below the %62 retracement level as impulsive waves down suggesting Wave 1 and 2 (blue) of Wave iii are completed and Wave 4(blue) of Wave iii currently under development .
(Please note the Alternate #2 for a Wave ii extending towards the %76 level).

Also note that, to match the length of Wave i, the internal waves of Wave ii should be re-labelled to a lower degree unless the current Wave 3(blue) or Wave 5(blue) are very extended.

The 60Min Chart shows more in detail current Wave iii internal waves, wherte Wave 3(blue) might have just been completed and a Wave 4(blue) correction could be underway (the end of Wave 1(blue) at 1.1050 price area should not be crossed.


60Mins

4Hours

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All the best for everyone and please do not hesitate to contact me if you have any questions or comments.

Andres

info@tradingwaves.org