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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

19 - 23 October	weekly forecast 19 - 23 October Weekly Review Brent Oil Weekly Review Wave Analysis Last week, Brent Oil rallied massively to the upperside but could not breakout above the zone 43.603-43.801. While the price remains below this zone, we are expecting a possible momentum to the lowerside. The anticipated bearish price rally is the cont More
2020	EURUSD	GBPUSD	USDJPY
23 October	Wait Wave Analysis Yesterday, Euro rallied massively to the lowerside and even went below the 23.6% fib level. On this chart, we still expect further momentum to the lowerside and should breakout below 38.2% fib level but should not go beyond 50.0% fib level. On this chart, we are looking for long term More	Look for low risk sell positions towards lower trendline Wave Analysis Yesterday, the British pound bounced off from the upper trendline, headed to the lowerside but is still pretty much bearish. While the price remains below the upper trendline,we are looking for nothing but a possible momentum to the lowerside. The anticipated bearish price rally is t More	Wait for low risk sell positions with an ideal target at 103.880. Wave Analysis During the previous trading day, the US Dollar broke below the inner supportive trendline and is still pretty much below this level. As it is now, we are looking for long term sell positions. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the low More
22 October	Expect further bearish correction towards 1.18410.	Remain short temporarily towards 38.2% fib level.	Wait for a resell from 50.0% fib level towards 100.00.
21 October	Wait for a possible sell position towards 1.16385.	Look for long term buy positions towards 1.34395.	Remain short towards 104.160.
20 October	Wait	Look for long term sell positions towards 1.27151.	Look for low risk sell positions with an ultimate target set around 104.160.
19 October	Look for sell positions towards 1.16249.	Look for sell positions towards 1.27151.	Look for long term sell positions towards 104.160.

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Elliott waves analysis

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