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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

10 - 14 August	weekly forecast 10 - 14 August Gold is Overbought! Gold weekly Review Wave Analysis According to the daily chart attached, we're in an active up trend. As long as the price remains above the Alligator indicator attached, we expect nothing but a possible momentum to the upper side. However, according to the Stochastic attached, Gold has bee More
2020	EURUSD	GBPUSD	USDJPY
14 August	Remain long towards 1.18782. Wave Analysis During the previous trading day, nothing much happened on this pair, EURUSD ended up closing below the Wednesday's highest high. As it is now, we expect either a continuation to the upper side towards 1.18782 and could breakout to the upper side. the anticipated bullish price rally i More	Expect a possible bearish correction towards the supportive trendline. Wave Analysis Last week, we saw a new high when the British pound ended up around 1.31650 but could not breakout any higher. As it is now, we are expecting a possible correction to the lowerside but should not go below the supportive trend line. We are basically waiting for a correction to the l More	Remain long towards the upper trendline. Wave Analysis After bouncing off from the supportive level 104.671, the Us dollar continued to the upper side but is still several pips away from our target set along the upper trend line, as it is now, we are waiting for a bounce from the upper trend line to pick a possible long term sell position More
13 August	We're short from the upper trendline.	Expect a possible momentum towards 1.30194	Look for buy positions towards 107.015.
12 August	Remain short towards 1.16060.	Wait	Wait and buy a break above the level 106.760 towards the upper trendline.
11 August	Remain short towards 1.15590.	Remain short	Expect further momentum to the upperside towards the upper trendline.
10 August	Wait	Remain short towards 1.29580.	Remain long upon a break above the upper trendline.

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Elliott waves analysis

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