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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
12 January	EUR/USD. The sideways movement has taken on clear boundaries. The developing corrective sideways trend is beginning to take on defined boundaries. It is likely that we are dealing with not a flat but a double or triple zigzag. In this case, the price may move within the indicated boundaries for quite some time, periodically tempting impatient traders into ha More	GBP/USD. The price remains within the forming correction. During the past trading day, the price predictably started to decline. However, the targets in the area of the local minimum were not reached, and buyers almost immediately returned the pound's value relative to the dollar to the initial point. Currently, the initiative has shifted to the buyers, More	USD/JPY. A promising opportunity for entering sell trades. The price made an attempt to grow further, but it only managed to barely update the local maximum. Active selling has begun, which could bring the price back to the starting point of this wave's rise. It is still assumed that wave b of a zigzag is forming in this way. The potential for movement is More
11 January	EUR/USD. The correction may take the form of a flat and soon come to an end.	GBP/USD. Weak sell signal.	USD/JPY. The price may experience a slight downward bounce.
10 January	EUR/USD. The price remains within the developing correction.	GBP/USD. Silence and calmness are likely to persist.	USD/JPY. The corrective wave continues its development.
09 January	EUR/USD. The price remains within corrective boundaries.	GBP/USD. The price may enter a sideways phase for an extended period.	USD/JPY. The formation of a correction in the form of a zigzag continues.
08 January	EUR/USD. The price remains in a corrective phase.	GBP/USD. The continuation of the correction is expected.	USD/JPY. A decline is expected within the forming correction.

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Elliott waves analysis

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