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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
02 February	EUR/USD. The market prefers to continue the corrective development. The market seems to be entering a somewhat hysterical state, experiencing strong fluctuations in different directions. Such behavior is characteristic of corrective structures. Presumably, the current movement will continue as a correction driven by the formation of wave ii. It is possible that it More	GBP/USD. The price remains in a corrective swamp. The price continues to trade within the previously established price range. During the last trading day, after reaching the lower boundary of the sideways movement, the price sharply reversed upwards, almost instantly returning to the local maximum. Further, a continuation of the slight upward mov More	USD/JPY. Sell Signal Confirmed. After breaking the designated level, which serves as a signal to initiate selling positions, the price attempted to quickly reverse back, but this plan by buyers failed. Eventually, the price remained below the level, starting to consolidate at new values. Consequently, the probability of further More
01 February	EUR/USD. Impulsive decline in the third wave of the impulse.	GBP/USD. Impulse movement is about to begin.	USD/JPY. Expectations of a decline in the third wave persist.
31 January	EUR/USD. The price continues to attempt a rise.	GBP/USD. Everything remains unchanged.	USD/JPY. The wave pattern remains unchanged.
30 January	EUR/USD. Another attempt to rise.	GBP/USD. The situation remains stable.	USD/JPY. Beginning of the development of the third impulse wave.
29 January	EUR/USD. Another attempt at corrective growth.	GBP/USD. Exiting the correction is expected in a downward direction.	USD/JPY. The beginning of an impulse decline in the third wave is expected.

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Elliott waves analysis

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