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Elliott waves analysis

This forecast is based on the Elliott Wave Principle which states that investor psychology is the motor behind the stock markets. In this analysis however, the analyst not only observes the previous price patterns, but also takes into account the correlation between different pairs before releasing forecasts.

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Elliott waves analysis

2024	EURUSD	GBPUSD	USDJPY
21 November	EUR/USD. A decline in the fifth wave of a bearish impulse. The attempt to rise, as expected, was unsuccessful, and as soon as the price reached the local maximum, active sales began again, bringing the value back to the previously established minimum. Presumably, the formation of correction wave 4, which took the form of a double three, has been completed More	GBP/USD. A decline in the fifth wave of the impulse will continue. The attempt to rise turned out to be unsuccessful for the British currency, which was expected. The current wave scenario suggests that a downward impulse is currently developing, which is also wave [c] in a bearish zigzag. In this impulse, presumably, the formation of the fourth wave ended with g More	USD/JPY. A final upward surge is possible. The dollar is trying to strengthen on all fronts. Relative to the Japanese currency, there is also a slow upward movement, which was expected. Currently, the observed growth is very similar to the formation of a divergent final horizontal triangle, in which the final fifth wave is developing. Now, More
20 November	EUR/USD. Expectations for the development of the final wave of the downward impulse remain.	GBP/USD. A decline is expected in the final wave of the downward impulse.	USD/JPY. The beginning of the development of the final wave of the final diagonal triangle.
19 November	EUR/USD. A decline is expected in the fifth wave of the downward impulse.	GBP/USD. The downward movement will resume soon.	USD/JPY. Growth in the final wave of the final diagonal triangle.
18 November	EUR/USD. Price is in a sideways range before the final downward push.	GBP/USD. Possibly the beginning of a corrective growth.	USD/JPY. The yen is showing signs of life again.

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Elliott waves analysis

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