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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

06 - 10 November	weekly forecast 06 - 10 November Weekly Review Silver Weekly Review XAGUSD is presently within an impulsive phase, showing strong bullish tendencies. The price is in the process of forming the major outer wave 'IV,' with our target set at 23.491. Anticipated movement suggests the price rising from 23.229, potentially reaching at least the re More
2023	EURUSD	GBPUSD	USDJPY
10 November	We're short towards 1.0610 EURUSD remains bearish as the price is currently experiencing an impulsive drop following a short pullback. This pair is in a corrective phase, moving in the form of an ABC corrective pattern. We anticipate the price to correctively decline from the current resistance zone, reaching at least the s More	We're Sellers for now On GBPUSD, which is currently in an impulsive phase, we can see the price dropping impulsively to the downside just after the consolidation at 1.2273. The price has also broken below the support zone of 1.2331, confirming that bears are in control. We expect the price to drop impulsively to the dow More	We're sellers towards 146.43 USDJPY is in a bearish corrective phase, specifically an ABC corrective pattern. The price had been moving upward for the better part of yesterday, November 9, 2023. We will wait to observe if the price faces rejection at the resistance zone of 151.78. Note that should the price close above this zo More
09 November	We're sellers for now	We're sellers for now	We're waiting for a bearish correction
08 November	We're sellers for now	We're sellers	We're short for now
07 November	You may consider initiating a short position at '1.0718,' aiming for a profit target of '1.0632-1.0606'.	Look for a short position at 1.2327,	We're sellers for now
06 November	We're waiting for a bearish pullback	We're short for now	We're short for now

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Elliott waves analysis

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