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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.

Elliott waves analysis

23 - 27
May
weekly
forecast
23 - 27
May

Gold Weekly Review Weekly Review: During the previous trading week ending 20th May 2016, the commodity traded perfectly short and is still pretty much bearish. We expect that the massive downward rally witnessed during the previous week is the continuation of wave (5) and may continue during

2016 EURUSD GBPUSD USDJPY
27
May

Wave Analysis EUR/USD is currently trading with a bullish bias. Yesterday, the pair traded within the rising channel, tested the upper trend line around 16.00 EST but ended up closing within the channel. During this intraday, as long as the pair trades within the rising channel, we expect a rally t

Wave Analysis GBP/USD is currently trading with a bullish bias. Yesterday, the pair rebounded from the resistance level 1.47068, headed short and is still pretty much bearish. We expect the current upward rally to be a mere upward pullback and should not close above 1.4729, a close above this level

Wave Analysis USD/JPY is currently trading with a bearish bias. Yesterday the pair traded short and even gave us a trend continuation candle on the daily chart. During intraday, we expect further movements to the lower side but should not go below 109.10. In the meantime, we sit on the side lines a

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