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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

11 - 15 September	weekly forecast 11 - 15 September Weekly Review SPX weekly Review The S&P 500 (SP500) is currently in the impulsive phase. The price is forming the major outer wave "IV". Currently, the price is at 4462.9, and this zone is a resistance zone. We expect the price to drop, at least down to the support zone at 4447.0. Note that this zone (4447.0) More
2023	EURUSD	GBPUSD	USDJPY
15 September	We're short for now EURUSD remains in a strongly bearish condition and is approaching our target. The price has experienced rejection at a significant resistance zone, specifically at 1.0762, just as we had predicted in our previous analysis on 14/9/2023. Our expectation is for the price to decline, potentially reachi More	We're short for now GBPUSD is currently in a strong bearish trend, as the price is dropping impulsively. The chart above clearly shows that this pair is in an impulsive phase and is currently forming the major impulsive wave 'V.' We anticipate the price to decline, potentially reaching the support zone at 1.2369. Our More	We're long for now USDJPY remains bullish. And just as we can see from the chart above the price is currently forming a bullish continuation, which shows that the bullish trend is likely to continue, The market is in an impulsive phase and currently forming the impulsive major outer wave 'V' which is our target is at More
14 September	We're short for now	We're long temporarily	We're long for now
13 September	We're short for now	We're long for now	We're long for now
12 September	We're short for now	Wait	Wait for long positions
11 September	We're short for now	We're buyers for now	Remain flat

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Elliott waves analysis

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