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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

23 - 27 October	weekly forecast 23 - 27 October Weekly Review Silver Weekly Review XAGUSD is currently in a very bearish state, and the price is undergoing a corrective phase. The price is presently at the minor wave 'a,' which is at 23.313; this level serves as a support zone. We anticipate the price will correctively rise to 23.515, which is our target f More
2023	EURUSD	GBPUSD	USDJPY
27 October	We're watching for a buy position now EURUSD is currently very bullish. We can note that this pair is still in a corrective phase (ABC corrective pattern). The price has broken below the support zone of 1.0562 and closed below it. However, please note that this does not change the overall bullish trend. We expect the price to drop fur More	We're short for now GBPUSD is still in a strong downtrend. The price has been consistently dropping, as evident from the chart above. Currently, the price is at a support zone of 1.2064. We anticipate the price to break below this zone and decline further to reach the support zone at 1.1995. This level is our target f More	We're long for a long time USDJPY is still in an impulsive phase. We can observe from the chart above that for the better part of yesterday, on '10/26/2023', the price trended to the upside without consolidating as it did before. The price is currently forming the outer major impulsive wave 'V,' and our target is the resist More
26 October	We're sellers for now	We're short for now	We're buyers for now
25 October	We're long for a short time	We're short for now	We're buyers for now
24 October	We're buyers for now	We're buyers for now	We're long for now towards 151.89
23 October	We're long for now	We're short for now	We're long for now

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Elliott waves analysis

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