EURJPY
On the 4h chart of EURJPY we are tracking an Elliott Wave triangle in the middle of a big downtrend that should continue towards the 109.00 area after this, the five wave sideways pattern is finished. For now however, the bearish trend should not show up yet, as we see the pair now turning up for wave E representing the final missing part of an Elliott Wave triangle.
EURJPY, 4H
SILVER
Silver broke beneath the 18.30 level but higher degree charts still show three waves of a decline from above 21.00 area. It’s a correction within an ongoing uptrend that will be expected to resume later this year. But for now the 4h chart shows that current wave C may resume towards the 16.70 area after a fourth wave bounce, before metal may look for a bullish turn. Short-term resistance is seen at 18.00.
SILVER, 4H
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Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3. They appear to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility.
Basic Triangle Correction:
