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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

26 - 30 December	weekly forecast 26 - 30 December Crude oil preparing to continue long . Gold weekly Review Weekly Review: For the past few months, Gold Markets have been falling relentlessly and is still showing signs of possible momentum to the lower side. Following the break into the falling channel, we are waiting for minor pullbacks towards the now resistive trend l More
2016	EURUSD	GBPUSD	USDJPY
30 December	Fresh weekly highs Wave Analysis: Earlier today, Euro spiked sharply to the upper side and even hit our first and second take profits, 1.05370, 1.06465 respectively. Although this pair looks pretty much bullish, the massive upward rally witnessed earlier today could as well be a mere knee jack and could be short live More	The cable in a corrective mode Wave Analysis: For the past two days, the cable has been retracing to the upper side despite our expectations to continue short. We expect this upward retracement to be a mere correction of the impulsive wave (c) and should not go beyond the end of the first motive wave (1), 1.2378, from where we'l More	Bullish corrections Wave Analysis: As previously forecasted, the US Dollar broke below the support level 116.71, headed perfectly short but has currently retraced back to it. As long as as this level,116.71, limits any invasion to the upper side, we expect to continue short with the impulsive wave (c) and should not g More
29 December	Euro fails to sustain the break below 1.04330	The cable continues to make lower weekly lows	US Dollar preparing to continue short
28 December	Bullish but still range bound	The cable in a corrective mode	Bulls eyeing a retest of the level 118.03
27 December	Consolidation	The cable to plummet further	usdjpy fails to sustain the break below the wedge.
26 December	Euro struggling below 1.0489	Bears eyeing a retest of the level 1.2029	Still bearish but not with a significant momentum

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Elliott waves analysis

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