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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

28 September - 02
October
weekly
forecast
28 September - 02
October

Gold weekly Analysis Gold General Overview:   Since May 2015, Gold has continually made lower highs being rejected by the upper resistance trend line. In march 2014, Gold hit the resistance trend line but got rejected with around 25061. Again In January 2015, gold tested the same trend

2015 EURUSD GBPUSD USDJPY
02
October

Technical View: EUR/USD is currently trading with a bearish bias. The anticipated downward movement of wave (c) not yet compete. We expect wave (c) to close along the support trend line or even below it. Generally, EUR is expected to trade on the lower ranges. EUR/USD is strongly positively corre

Technical View: GBP/USD is currently trading with a bearish bias. The pair crossed and closed below a key pivot level 1.5328 and is currently trading below it as we forecasted previously. We anticipate that, as long as the pair trades below this pivot level, GBP will likley trade on the lower

Technical View: USD/JPY is currently trading with a bearish bias. The pair continues to trade within the range 121.61, and 118.44, even after, GBP, a negatively correlated pair crossed below a key pivot area. As long as the pair trades within this range, short positions are encouraged along 121.

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