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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
19 July	EUR/USD. The Formation of Corrective Waves Has Begun. Buyers had just enough strength to slightly exceed the previously established maximum, which is barely noticeable on the chart. Nonetheless, a new maximum was set. Immediately after this, the price moved in the opposite direction, indicating the start of a correction. Given the previous significan More	GBP/USD. Correction Wave Development Expected. The situation in the pair is similar to what is observed with EUR/USD. Here too, the development of a strong bullish wave, apparently an impulse, has ended, and a decline has begun. It is possible that the formed impulse is wave 1 within wave [iii] of the higher timeframe. Thus, the observed decli More	USD/JPY. The Beginning of an Impulsive Decline. During the last trading day, the formation of a descending impulsive wave in the USD/JPY pair likely concluded. This might be just the beginning of a significant and prolonged bearish movement. In the near term, we can expect a corrective pullback, which may take the form of a simple zigzag. This More
18 July	EUR/USD. The Euro Tries to Maximize Gains from the Current Situation.	GBP/USD. The Dollar Will Attempt to Start a Corrective Decline Again.	USD/JPY. A Reversal Has Likely Already Occurred.
17 July	EUR/USD. Correction Expected.	GBP/USD. Price to Start a Corrective Decline.	USD/JPY. Expected Growth in the Fifth Wave of the Upward Impulse.
16 July	EUR/USD. Correction is inevitable!	GBP/USD. Beginning of a Corrective Decline.	USD/JPY. Beginning of the Final Wave of Growth.
15 July	EUR/USD. Corrective decline expected.	GBP/USD. Directional movement turns corrective.	USD/JPY. Dollar attempts to regain lost ground.

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Elliott waves analysis

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