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Threewave

Ripple Found Support After A Three-Wave SetbackBITSTAMP:XRPUSD made nice three-wave correction back to previous wave IV with (a) = (c) equal legs and hit exactly 1.60 level as we expected. This is actually perfect setup in Elliott Wave theory and exactly, what we are looking for trading opportunities. But we have to wait for confirmation, which is a break above channel resistance line and to be sure we need a break above 2.80 level, which would confirm that Ripple is back in bullish trend. If Ripple from any reason breaks lower beneath 1.60 level, then we may adjust the view.
BITSTAMP:XRPUSDLong
by ew-forecast
26
Elliott Wave Analysis: USDJPY Can Be In For A ReversalUSDJPY is turning down at the moment which has been technically expected based on a five wave rise from 112.08 which makes a completed wave v) of a higher degree. That said, a bigger corrective decline can be coming in three waves. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
Short
by ew-forecast
5
Elliott Wave Analysis: USDJPY Could Be In For A ReversalUSDJPY is falling sharply for the last few weeks, clearly with impulsive price action down from 115.50, but if we take a look at the whole bearish cycle from December 2016 high we should have to be aware of a new significant turn. The reason is a three wave structure, which in Elliott Wave terminology represents a corrective prince move, but it's important to wait on confirmed low of a wave (C) before we may turn bullish. With that said, we would need an impulse back above 113.00 to confirm end of a bearish cycle; so until then there is possibility for weakness to extend down to 109.50-108.40 region.
by ew-forecast
7