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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 August - 01 September	weekly forecast 28 August - 01 September Weekly Review SPX500 Weekly Review The SP500 is currently in an impulsive phase. The market is situated at the major outer corrective wave 'IV' level of 4364.3. It's important to note that this zone acts as a support level. Our expectation is for the price to rise from this zone, reaching at least up to 4889. More
2023	EURUSD	GBPUSD	USDJPY
01 September	We're waiting for a low risk buy position. The EURUSD dropped to the downside, just as we had predicted in our previous analysis on 8/31/2023. Currently, the price is within a minor corrective wave labeled as 'b' at 10841. This currency pair is still in a corrective phase, and we anticipate an impulsive upside movement for our target at 1.1 More	Remain short for now GBPUSD, our bearish sentiment remains intact as the price continues to decline, aligning with our earlier prediction in the analysis dated 8/31/2023. Notably, the price encountered significant resistance at 1.2746, reinforcing the strength of the sellers. The market is currently in the process of f More	We're buyers for now USDJPY remains bullish, as evidenced by the chart indicating the formation of a falling wedge pattern—a signal for a bullish trend. The market continues to exhibit an uptrend, and this particular setup remains valid. The market is currently within an impulsive phase, actively shaping the major oute More
31 August	Wait for a correction for now	We're short for now	We're long for now
30 August	We're waiting for long positions	We're short for now	We're buyers for now
29 August	We're long towards 1.11045	We're sellers for now	We're long for now
28 August	We're waiting for a low risk buy position	We're sellers for now	Buyers still in charge

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Elliott waves analysis

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