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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 for Forex correlation 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. Also, it gives me a humble time to sit down and analyze the market without stress and worry of time.

How I draw strong support and Resistance

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

  1. Must have been used as a support before.
  2. Must have been used as a resistance before.
  3. 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.

Note: Also, if the levels I draw conform to my Fibonacci levels, it is highly likely that those levels are strong and could be of interest in the future.

More

27 - 31
March
weekly
forecast

Gold weekly review Wave Analysis:   Ealier the previous trading week,  Gold markets traded a bit higher and even broke above a key level 1232.69. This level acted as a key retracement level during the previous downtrend, on 16th November 2016, Now that the price is above this level, we

2017 EURUSD GBPUSD USDJPY
28
March

Wave Analysis: Following the gap above 1.08224, euro traded on the higher ranges and is still pretty much bullish as long as it remains above 1.08224. During this intraday, we're waiting for minor retracements to the just broken level to pick low risk buy opportunities. The anticipated upward rall

Wave Analysis: Yesterday, the cable traded massively to the upper side but has currently retraced back to a key short term support level 1.2556. We're waiting for a perfect rebound from this level long with our previous target still intact at 1.2725. The anticipated upward rally is the continuatio

Wave Analysis: As previously forecasted, the corrective inner wave (ii) could not go beyond 111.78. As long as the price remains below 111.78, we expect a possible bearish price movements towards 108.94 or even lower. The anticipated downward rally is the continuation of the impulsive wave (iii) a

27
March

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