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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

29 May - 02 June	weekly forecast 29 May - 02 June Gold weekly Review Gold weekly Review Wave Analysis: As previously anticipated, gold markets rose following a rebound from 1220.28 and is still pretty much bullish both on the weekly and the monthly charts. As long as the price does not retrace back below 1220.28, we expect a possible bullish wave count toward More
2017	EURUSD	GBPUSD	USDJPY
02 June	Wait for a breakout above 1.1237 Wave Analysis Instead of continuation long as previously forecasted, the impulsive wave (v) traded slightly to the upper side but could not break above the end of the third impulsive wave (iii), 1.1237. We're waiting for a clear breakout above 1.1237 to confirm the continuation of the impulsive w More	we're still long Wave Analysis: Despite the bullish engulfing pin bar seen on May 31st 2017, yesterday's daily candle could not close above it's opening price. Instead this pair pullback slightly to the lower side and ended up closing just a few pips below its previous day's opening price. As long as the level 1. More	Corrections Wave Analysis: The US dollar continues to correct to the upper side despite our expectation to continue short. We expect the previous day's bullish price rally to be a mere correction of the impulsive wave (c) and should not go beyond the daily resistance line 111.94 from where we'll be looking t More
01 June	Bulls in control	Bearish pullbacks despite the bullish engulfing pin bar on the daily chart	Bears in control
31 May	Bullish pin bar	Consolidations	Bears in control
30 May	Extended correction	Consolidations above 1.2777	We're short
29 May	Corrections	Expect a halt around 1.2770	Bears in Control

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Elliott waves analysis

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