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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

08 - 12 May	weekly forecast 08 - 12 May Gold Still retracing Gold Weekly Review Wave Analysis: During the previous trading week ending 5th May 2017, we witnessed further bearish correction of the impulsive wave (c) but is yet to hit our turn around zone 1204.70-1191.12. During this trading week, we still expect further rally to the lower side but More
2017	EURUSD	GBPUSD	USDJPY
12 May	Consolidating above 1.08649 but still bullish Wave Analysis Euro continues to consolidate above 1.08649 despite our expectations to continue long. Although we cannot refute the possibility of Euro breaking below 1.08649, as long as the pair remains above 1.08649, we expect a possible bullish price movements towards 1.10532 or even higher. The More	The cable showing signs of further retracements Wave Analysis: Despite our previous forecast that the cable should rise, this pair continues to rally on the lower side and will likely head further to the lower side. We expect a possible second retracement towards 1.27735 from where we'll be looking for very low risk buy opportunities. The antici More	Still long towards 115.040 Wave Analysis: Yesterday, US Dollar retraced lower than expected but should not close below 113.783 by the end of this trading day. Ideally, we expect a continuation of the impulsive wave (5) but should not go beyond the resistance level 115.040 from where we'll be looking for a possible low risk s More
11 May	Expect a possible bullish price rally towards 1.11379.	Expect a possible bullish price movements towards 1.30754	Bullish pin on the daily chart
10 May	Bulls preparing to take control	Expect further retracements towards 1.27735	Expect a possible bullish acceleration towards 115.05
09 May	Euro Retracing	Still long	Bullish pin on the daily chart
08 May	To continue long	We're long	Flat momentarily

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Elliott waves analysis

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