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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

05 - 09 December	weekly forecast 05 - 09 December Bearish Engulfing Candle in Gold Gold Weekly review: Weekly review: During the previous trading month, Gold's monthly candle opened at 1276.81, went as high as 1337.19 but ended up closing at 1173.12. The previous months candle is a perfect bearish engulfing candle and will likely push the price further t More
2016	EURUSD	GBPUSD	USDJPY
09 December	Perfect bearish engulfing candle on the daily chart Wave Analysis: Yesterday, Euro opened at 1.07515, went as high as 1.08719, but ended up closing at 1.06140, several pips below it's weekly opening price. The previous day's candle is a perfect bearish engulfing candle and signals a possible increase of sellers in the market. Although we expect furt More	A possible bearish pin bar Wave Analysis: As anticipated, the cable retraced towards 1.2734 but ended up closing at 1.2584, just a few pips below it's opening price, 1.2622. The previous day's candle is a perfect bearish pin bar, and should push the price further towards 1.24044 or even lower. As long as the level 1.27700 li More	Possible Triangular Formation Wave Analysis: Yesterday, instead of going short as anticipated, the pair retraced to the upper side but is currently stalling around 114.48, which is the top of the triangular formation. As long as this limits invasion to the upper side, we expect a possible rebound from this level to go shot towa More
08 December	Bulls eying a possible break above 1.07957	Bears showing signs of dominance	Upperside limited as long as below 113.88
07 December	Expect further bearish momentum	The cable in corrective mode	Bulls gaining momentum
06 December	Euro failed to sustain the break below 1.05858	Bulls eying a possible break above 1.2743	Expect a possible bearish wave count as long as the pair remains below 113.76
05 December	Bears eyeing a break below 1.04568	The Cable Still Strong	Trade The US Dollar alongside Gold

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Elliott waves analysis

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