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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

2023	EURUSD	GBPUSD	USDJPY
29 December	EUR/USD. The development of corrective wave [4] is underway. The updated wave labeling variant has received partial confirmation. The price, moving with momentum, slightly increased and updated the local maximum, then sharply reversed and moved downward. Possibly, the development of wave [4] has started in the considered ending diagonal triangle. If this is More	GBP/USD. There is a likelihood of a formation of an ending diagonal triangle. The current unfolding situation is currently supporting the considered scenario. After a minor update of the previously established high for the current month, the price reversed and began to decline rapidly. It is probable that the fourth wave is currently forming in the ending diagonal triangle, More	USD/JPY. The price has broken below a crucial level, but this does not resolve anything for sellers. The price sharply declined, triggering a sell signal. However, there was no follow-through on the downside, and this is causing concern. It is already evident that the dollar is attempting to improve its position and turn the unfavorable situation in its favor. At the moment, the scenario of a dec More
28 December	EUR/USD. The upward movement is in the final stage of its development.	GBP/USD. The dollar is luring buyers into a trap.	USD/JPY. The price is ready to continue its decline.
27 December	EUR/USD. The development of the ending diagonal triangle is presumed to be nearing completion.	GBP/USD. We continue to wait for the activation of the sell signal.	USD/JPY. The price is on hold, awaiting a decision.
26 December	EUR/USD. The price remains within the confines of a forming ending diagonal triangle.	GBP/USD. Awaiting confirmation of the start of an impulsive decline.	USD/JPY. Expectations of a decline in the third wave persist.

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Elliott waves analysis

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