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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
26 July	EUR/USD. The Price May Start Forming the Third Impulse Wave. During the past trading day, the price made active attempts to rise, but all of them ended in failure. As a result, no directional movement was seen, and the price remained practically at the same level as the previous day. This price movement pattern resembles a correction. It is quite possible t More	GBP/USD. Impulsive Growth Expected to Resume. The value of the British currency continued to decline. The retracement is getting deeper, and sellers might not be done yet. During today's trading session, the price may continue to fall, but the potential for this movement seems limited, so it is not advisable to focus on making selling trades. More	USD/JPY. Decline Within Corrective Wave. The dollar has managed to cool down the momentum of the Japanese yen and halt the strong downward movement. However, this is likely temporary. The decline is presumed to be impulsive, with the formation of wave 3 currently complete. Thus, the halt and the observed bounce are corrective in nature a More
25 July	EUR/USD. Resumption of Upward Impulse Movement.	GBP/USD. The trading situation remains unclear.	USD/JPY. Yen Takes the Initiative.
24 July	EUR/USD. Development of the Corrective Movement Will Continue.	GBP/USD. The Price Continues to Form a Downward Corrective Structure.	USD/JPY. Possible Growth Within the Forming Correction.
23 July	EUR/USD. Development of the Correctional Phase Continues.	GBP/USD. Wave 2 Formation in the Upward Impulse Continues.	USD/JPY. The Correction Development Will Continue.
22 July	EUR/USD. The Formation of Corrective Waves.	GBP/USD. Correction Continues to Develop.	USD/JPY. Continuation of the Formation of a Corrective Structure.

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Elliott waves analysis

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