Video

John J Hardy
Saxo Bank’s head of FX strategy John Hardy takes a closer look at trends and moves in today’s forex charts, including EURUSD, USDJPY, AUDUSD, and EURSEK.
Squawk / 06 March 2019 at 18:27 GMT
Founder, Owner, Director / Market Chartist
United Kingdom
Elliott Wave Analysis: USDSGD and EURUSD Update by Gregor Horvat

USDSGD made a big, bullish recovery at the end of 2017, and in 2018. We can see that price found a top for this five-wave rally near the 1.3900 region, from where a new impulsive (five-wave) structure has followed. We labelled it as wave A, which can now be followed by a temporary pullback as wave B. Once wave B fully develops, that is when final wave C may follow, and take price towards the 1.343/1.332 region, where Fibonacci ratios of 50.0 and 61.8 can react as support, and push prices higher. A new impulsive rally, in five waves, and above the 1.377 level would confirm a completed correction, and more upside.

See the full article here: https://www.fxexplained.co.uk/forex-articles/technical-analysis/elliott-wave-analysis-usdsgd-and-eurusd-update/

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