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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
07 June	EUR/USD: Price Deciding on Direction. During the past trading day, the developing wave pattern did not undergo any significant changes. The price essentially remained at the same levels, despite attempting to rise, which was quickly halted. Doubts arise again regarding the potential for further impulsive growth. From the current level More	GBP/USD: Bullish Scenario Remains Relevant. The current situation for this pair is similar to what we see with EUR/USD. Nothing significantly important happened during the past trading day; the price remained in a very narrow range throughout the day, without deciding which direction to move next. The decision was postponed for some time. Pe More	USD/JPY: Correction Before Further Decline Continues. As anticipated, the price has started to get caught up in a correction. The initial minor decline was quickly bought up halfway. Now, we are likely to see movement within a certain price range, with the eventual breakout expected to be downward. The anticipated decline is driven by the beginning o More
06 June	EUR/USD: Decline Canceled.	GBP/USD: Another Chance to Rise.	USD/JPY: Initiative Remains with the Bears.
05 June	EUR/USD: Ascending Impulse Completed, Correction Begins	GBP/USD: Corrective Decline	USD/JPY: Small Correction Before Further Decline
04 June	EUR/USD: Price Will Continue to Rise	GBP/USD: Final Rise in the Ascending Impulse	USD/JPY: Expectations of Impulsive Decline Persist
03 June	EUR/USD: Euro Aiming for New High	GBP/USD: Pound Not Ready for Continued Growth Yet	USD/JPY: Situation Remains Promising for Sales

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Elliott waves analysis

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