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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
05 January	EUR/USD. The price will continue forming a corrective wave. The situation with the considered pair is unfolding as expected. After forming a descending impulse, the price started to rise, apparently within the framework of a correction. The development of wave ii in the descending impulse is anticipated. At the moment, half of the specified correction has More	GBP/USD. Continuation of the correction development. The situation with the considered pair is also unfolding as expected. The price managed to rise, and the movement is viewed as a correction. This indicates that after its completion, we will see a continuation of the pair's decline. In general, this decline will be a continuation of the developmen More	USD/JPY. Correctional decline in wave b. The value of the dollar against the Japanese yen has risen sharply. This movement was expected and is likely part of the ongoing correctional structure. Presumably, the correction will take the form of a simple zigzag, and the recent rise is wave a. Therefore, in the near future, we may see a pull More
04 January	EUR/USD. Growth in the second wave of an emerging downward impulse.	GBP/USD. Uncertainty.	USD/JPY. Completion of the first part of the upward correction.
03 January	EUR/USD. The direction of movement has changed.	GBP/USD. Another bearish cycle has begun.	USD/JPY. Growth is expected in wave (ii).
02 January	EUR/USD. An upward movement is expected in the final wave of the terminal diagonal triangle.	GBP/USD. The pound may resume its upward movement.	USD/JPY. The dollar is preparing to attack the yen.

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Elliott waves analysis

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