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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

07 - 11 December	weekly forecast 07 - 11 December Weekly Review Gold Weekly Review Wave Analysis Few weeks ago, XAUUSD established a resistance level around 2883.05. As long as the price remains below this zone, we are looking for more momentum to the lowerside. The anticipated bearish price rally is the continuation of a corrective wave count and co More
2020	EURUSD	GBPUSD	USDJPY
11 December	Remain long towards 1.22. Wave Analysis Instead of continuing to the lowerside as previously expected, Euro rallied to the upper side and is now above the blue line, while the price remains above this blue line, we are looking for further momentum to the upper side and should see price break and close above 1.21620, if you More	Wait Wave Analysis Just as previously anticipated, the British pound rallied to the lower side but could not go beyond the lower trend line. As long as the price is not able to break below the lower trend line, we are waiting for a bounce from within the zone 1.34470-1.34300, if the price bounces off f More	Expect a possible rally towards 103.712. Wave Analysis The Us Dollar continues to remain within the range 104.699-103.712, yesterday, we expected the price to rally to the upper side towards 104.699, instead the price pulled back to the lower side and is now heading towards the lower trend line, on this chart, we are expecting a possible More
10 December	Remain short towards 1.19330.	Remain short towads 1.32400.	Wait and sell a bounce from 104.699.
09 December	Look for low risk buy positions towards 1.21960.	Remain long towards 1.34470.	Remain long towards 104.699.
08 December	Look for low risk buy positions towards 1.21855.	Expect a possible momentum towards 1.32100.	Wait
07 December	Look for long term buy positions.	Remain short towards the lower trendline.	Rebuy the US dollar from 103.715.

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Elliott waves analysis

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