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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
21 June	EUR/USD. Development of the Third Wave of Upward Impulse. The updated scenario with a simple zigzag is currently being confirmed. The previously formed impulse, identified as wave 1, was corrected by a minor decline during yesterday's trading session, forming wave 2. Now, there is a cautious attempt to rise, which potentially represents the next wave 3 o More	GBP/USD: Further Development of the Corrective Decline. The pound has predictably declined, and the price has updated the local minimum. The formation of the correction in the form of a simple zigzag could be considered complete at this point. However, from a harmonic perspective, the size of the correction does not correlate well with the formed upwar More	USD/JPY: The Upward Cycle Might Be Completed. The dollar has finally managed to reach the target, which was set at the upper boundary of the presumed ending diagonal triangle. This might indicate the completion of the entire upward impulse cycle. However, it is too early to draw conclusions. Confirmation is needed in the form of a strong impu More
20 June	EUR/USD. Likely Formed a Simple Zigzag.	GBP/USD. Expected Decline in Wave C of the Zigzag.	USD/JPY. Price Continues to Consolidate.
19 June	EUR/USD: Potential Resumption of Decline within Forming Correction.	GBP/USD: The Zigzag Continues to Form.	USD/JPY: Low Activity Persists.
18 June	EUR/USD: Preparing for Another Bearish Wave.	GBP/USD: Price Continues Correction Development.	USD/JPY: Final Diagonal Triangle Nearing Completion.
17 June	EUR/USD: Euro Expected to Slightly Increase.	GBP/USD: Correction Underway.	USD/JPY: Price Remains Within the Channel Forming an Ending Diagonal Triangle.

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Elliott waves analysis

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