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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
17 December	EUR/USD. Euro is preparing for a sharp rise. The EUR/USD pair has shown no significant changes over the past trading day. The euro is struggling to maintain its dominance, but it is demonstrating readiness for a major upsurge. This scenario is supported by the completion of the correction phase, which may precede a significant bullish moveme More	GBP/USD. Third wave of the bullish impulse is in the works. The GBP/USD pair experienced a minor pullback in the last trading session, but this doesn't detract from the overall bullish outlook. The market is positioned for a significant rise in the third wave of the emerging bullish impulse. The correction phase appears to be near completion, which indicat More	USD/JPY. Bearish trend is gaining traction. The USD/JPY pair has demonstrated signs of weakness, returning to the previous level of 61.8% according to the Fibonacci Retracement Indicator. This reinforces the bearish sentiment, suggesting that the market is gearing up for a downward movement. The ongoing correction phase points to a possible More
16 December	EUR/USD. Bullish scenario remains viable.	GBP/USD. Awaiting a buy signal in the third impulse wave	USD/JPY. Signals for a bearish third wave are in place.

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Elliott waves analysis

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