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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

28 November - 02 December	weekly forecast 28 November - 02 December Gold to trade short in the long run Gold Weekly review Weekly review: As anticipated, during the previous trading week ending 25th November 2016, Gold markets traded massively short and is still pretty much bearish on both the weekly and monthly charts. If the current monthly chart can close the way it is right now, the More
2016	EURUSD	GBPUSD	USDJPY
02 December	EUR/USD approaches 1.07227 Wave Analysis As anticipated, the Euro traded massively long after rebounding from the lower trend line but is yet to hit our target resistance level 1.07227. From yesterday's forecast, nothing has changed much, we still expect further bullish wave count towards 1.07227 and possibly higher. At the More	Bullish momentum accelarating towards 1.2743 Wave Analysis: Yesterday, the British pound strengthened against the US Dollar as the demand for the pound increased. Despite the massive upward rally witnessed during the previous trading day, we still expect to continue long with the impulsive wave E and may breakout above 1.2743. Any clear devel More	Downward rally limited as long as above 113.88 Wave Analysis: Following the breakout above 113.88, the pair accelerated to the upper side but has currently retraced back to it, 113.88. As long as the level 113.88 limits any invasion to the lower side, we expect a possible rebound from this level to go long with an ideal target at 121.44. Any cl More
01 December	Looking to re-buy euro towards 1.07227	The Cable's Strengh persists.	US Dollar overbought
30 November	Euro Keeps Strengthening	Nothing has changed much, we'e still long	US Dollar loosing momentum
29 November	Euro fail to sustain the break above 1.06087	Bearish engulfing candle	The US Dollar finds support just before 110.91
28 November	Euro in a corrective mode	Bulls Preparing to take control	Key support at 110.91

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Elliott waves analysis

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