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.

Elliott waves analysis

Support and resistance system should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.

How I draw strong support and Resistance

Before I call a level strong, the same level must met the following conditions.

Must have been used as a support before.
Must have been used as a resistance before.
There must be a big candle that broke through it at one point in the past!

Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.

13 - 17 August	weekly forecast Gold still to drop German stocks index Wave Analysis:After breaking above the level 12035.1, The German Stocks index has since remained above this level. As we mentioned few weeks ago, while the price is above this level, we expect a possible momentum to the upperside. The anticipated bullish price rally is the con More
2018	EURUSD	GBPUSD	USDJPY
16 August	On the sidelines Wave Analysis During the previous trading day, Euro dropped but is currently correcting itself to the upperside, We're basically waiting for a break above 1.1516 to pick a long term long position with an ultimate target at 1.2415. With this long position, you could take your profits at 1.1845 , and More	Sell The cable now Wave Analysis: During the previous trading day, the impulsive wave (5) extended significantly to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below 1.2975, w expect a possible momentum to the lowerside. The anticipated bearish More	As long as the price is below 110.81, look for short position. Wave Analysis After an attempt break above 110.81, the Us Dollar pulled back and is now below the same level. As long as the price remains below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) More
15 August	still short	we're short	Wait and rebuy US Dollar around 111.04
14 August	Expect further correction upwards.	Sell the cable below 1.2697.	We’re either looking for a short position, or on the sidelines.
13 August	Wait for a clear buy signal	Sell a clear breakout below 1.27252.	Buy US Dollar now

Elliott waves analysis

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