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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

24 - 28 October	weekly forecast 24 - 28 October Consolidation in silver Gold weekly review: Weekly Review: During the previous trading week ending 21st Oct 2016, gold markets retraced to the upper side but is currently declining in an upward momentum. We expect the level $1268.91 to have marked the end of the corrective wave (b) and that the current downw More
2016	EURUSD	GBPUSD	USDJPY
28 October	We're short Wave Analysis: As previously forecasted, Euro rose earlier yesterday, but ended up closing below its opening price. The previous day’s candle is an exhaustion candle around a key pivot level $1.0907. We expect this level to have marked the end of the corrective wave (4), that the current down More	Bearish momentum developing Wave Analysis Following the exhaustion candle witnessed yesterday at noon on the 4Hour, the market fell relentlessly, broke below the channel and is still pretty much bearish. We expect to continue short for the better parts of this intraday but only after minor pullbacks to the just broken trendli More	Bulls gaining momentum Wave Analysis As previously anticipated, the impulsive wave (3) traded long but is yet to reach our target resistance level $106.17. We expect the current downward rally to be a mere correction of the third wave and should not go beyond the end of the first motive wave, $104.86. ideally, we expect More
27 October	Sell from 1.0972	Bullish momentum developing	Remain long
26 October	Expect a possible bearish price rally	A bearish breakout	We're long
25 October	Indecision	We're long	Expect a possible bullish price movements towards $106.20
24 October	Bearish Momentum Developing	Symmetrical trianglor formation	We're short

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Elliott waves analysis

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