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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

23 - 27 November	weekly forecast 23 - 27 November Wait on Gold Gold Weekly Review Wave Analysis After a significant rally to the upperside, Gold is currently within a contracting wedge formation. On this chart, in case the price breaks and closes above this wedge formation, then this will be a good place to consider a possible buy position. The antici More
2020	EURUSD	GBPUSD	USDJPY
27 November	Buy a break aboven the upper trendline. Wave Analysis Yesterday, Euro bounced off from the upper trendline and is not showing signs of breaking above the upper trendline. If the price breaks and closes above the upper trendline, then this will be a good place to consider a possible long term buy position with an ultimate target set arou More	Wait and buy a break above 1.33957. Wave analysis The British pound continues to rally above the blue line of the alligator indicator. As long as the price remains above this blue line, we expect a possible continuation of the impulsive wave (5) to the upperside and should breakout above 1.34085 towards 1.35 or even higher. On the f More	Buy a bounce from the lower trendline. Wave Analysis During the previous trading day, instead of continuing to the upperside, the Us dollar rallied to the lowerside but is still above the lower trendline. If the price breaks and closes below the lower trendline, then further momentum to the lowerside is expected, however, should the pr More
26 November	Look for long term buy positions towards 1.2012.	Remain long towards 1.3454.	Look for long term buy positions towards the upper trendline.
25 November	Watch for a possible sell positions from the zone 1.19334-1.18875 towards 1.16310.	Look for possible sell positions towards the lower trendline.	Look for long term sell positions towards 102.720.
24 November	Watch for a sell from around 1.19334.	Wait	Sell from 104.666 towards 100.550.
23 November	Wait.	Look for long term buy positions.	Remain short towards 100.550.

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Elliott waves analysis

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