DOW has been in sideways consolidation mode since making a swing high of 18363 during May 2015. From an Elliot Wave perspective, the consolidation appears in a form of a Contracting Triangle . Subways of a Triangle appear in the 3-waves as depicted in the a-b-c labels. Wave c of D appears to be completed and is now forming Wave a of E. When Wave E completes its...
EURJPY has been working upwards from its Mar low of 122.056 correctively in 3 waves W-X-Y structure. Wave Y is still in progress and should work towards a cluster of fib and chart resistances between the range of 127.906 to 128.387. If prices reverse from a/m resistance cluster, expect prices to reach/exceed its prior swing low of 122.06.
The pair has been consolidating since completing a 5-wave impulsive move terminating in 164.096. Prices have retraced almost 61.8% of the prior up swing which is a typically good area of support. The consolidation have taken the form of 'combinations' W-X-Y wave patterns. The final consolidation pattern is taking a form of a Triangle terminating at 158.578. A...
This pair has worked its way upward from its low at 1.38355 in a corrective A-B-C wave pattern terminating at 1.45141. Since then, it was turned down impulsively from 1.45141 to a swing low of 1.40569. Similar to EURUSD, this pair will likely work its way down further after correcting up from its 1.40569 low. Note: This is my 2 cents worth of sharing...