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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

10 - 14 July	weekly forecast 10 - 14 July Gold weekly review Gold Weekly Review Wave Analysis: Perfectly as previously forecasted on the weekly forecasts, gold markets dropped in price even further but is yet to hit our monthly support level 1191.12. During this week, we expect a possible extension of the corrective wave (b) but should not go beyond 1 More
2017	EURUSD	GBPUSD	USDJPY
14 July	Bears slowly gaining control Wave Analysis: Few days ago, the impulsive wave (v) extended higher but could not go beyond the resistance level 1.1463. We expect the downward rally that began two days ago to be a mere corrective three wave cycle and should not go beyond the daily support level 1.08649 during this intraday. With More	The cable could form a triple top around 1.3039-1.3024 Wave Analysis We expected a possible bearish price rally towards the daily support level 1.2777 few days ago, but as it appears, the cable could barely hit this level, instead, it pulled back upwards and could extend further upwards during this trading day. This is just a corrective price rally and More	Possible corrections Wave Analysis: Following the massive drop seen on 7th July this month, the pair failed to continue short and is still pulling back upwards. We expect the current upward rally to be the unfolding of the corrective wave (b) upwards but should not go beyond 114.09, from where we'll be looking to short More
13 July	We're short	Still bearish	Short towards 112.001
12 July	Bulls Gaining momentum	Bearish continuation candle	Bearish pin bar
11 July	Bears still preparing to pick a momentum	Expect a momentum towards 1.27735	Bulls still dominating
10 July	Bears preparing to take full control	Bears gaining momentum	Bulls still control

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Elliott waves analysis

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