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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
15 November	EUR/USD. A small correction before another wave of decline. The development of the downward impulse movement continues. At the moment, wave 3 is presumably completed. This is indicated by the reaction from buyers who attempted to stop further decline. Ultimately, something worthwhile is unlikely to come of this. The maximum that euro supporters can expect More	GBP/USD. The downward movement is put on a correctional pause. The rapid decline in the pair, similar to EUR/USD, has paused. But this does not mean that a reversal will occur soon and the British currency will start to rise. Most likely, we will see a correction in the near future, leading to a slight increase. This is due to the formation of wave 4 in the d More	USD/JPY. The correctional growth will soon end. The situation for this pair remains under the firm control of buyers. The dollar’s exchange rate against the yen continues to rise, updating local highs. At the same time, the price remains within the previously formed downward impulse wave, so the current growth is still considered part of the fo More
14 November	EUR/USD. The impulsive decline will continue.	GBP/USD. The decline will resume after a slight corrective growth.	USD/JPY. The price continues to rise.
13 November	EUR/USD. Price will form another bearish wave.	GBP/USD. The decline within the zigzag formation will continue.	USD/JPY. The yen is still waiting for the right moment.
12 November	EUR/USD. The price will continue to decline in the elongating third wave of the impulse.	GBP/USD. Wave [c] in a bearish zigzag is expected to develop.	USD/JPY. The situation remains unchanged.
11 November	EUR/USD. Preparing for further impulsive decline.	GBP/USD. Expectations of decline in a forming zigzag remain.	USD/JPY. Expectations of price decline remain.

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Elliott waves analysis

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